Retail center in Castle Rock Promenade sells for $7 million

Property Location: 4991 Factory Shops Blvd., Castle Rock

Property Description: 11,368-sf retail center, YOC 2016

Land Size: 1.44 acres

Sales Price: $7M, or $615.76 psf

Reception No.: 2017033617

Grantor: White Fir LLC by: Alberta Development, Donald Provost, mgr.

Grantee: 4991 Factory Shops Blvd., LLC

Closing Date: 5/19

Financing: $6.16M payable to Umpqua Bank (85% LTV)

Comments: Listed by Tom Ethington & Rob Edwards of Pinnacle Real Estate Advisors. Property was 100% leased with a going-in cap rate of 5.95%. The six-tenant building includes: MAD Greens, In & Out Smart Repair, Great Clips, Elements Message, Waxing the City, The Joint and Smashburger.

Click Here to Read More – Colorado Real Estate Journal