Record-Breaking Sale of Aurora Goodwill
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of an Aurora Goodwill, a 17,865 SF single-tenant retail building, built in 2014 on a 2.41 acre lot located at 18355 East 35th Place in Aurora, Colorado. The property sold for $4,415,891 on December 15, 2017, and Jamie Mitchell and Mike Krebsbach exclusively represented the Colorado seller and procured the California 1031 exchange buyer.
The property was 100% occupied by Goodwill on a long term lease NNN lease at closing. According to CoStar, the property’s cap rate of about 5.50% was the lowest cap rate for a stabilized Goodwill retail property sale in Colorado’s history.
“This sale is a good indicator for high level of buyer demand for stable net leased properties occupied by national credit retail tenants in Colorado and the fact that there are still more buyers than sellers,” said Mitchell. “With Denver being so picked over, buyers are jumping on the opportunity to buy hands-off investments like this.”