Pinnacle Real Estate Advisors, LLC is pleased to announce the lease of an 11,503 square foot medical office lab located at 14998 W 6th Avenue in Golden, Colorado. CME America leased the space for an undisclosed amount and undisclosed term.
“Medical Office/Lab space is in demand in the Denver Metro area, and CME America is a good fit for this location,” said Pete Foster with Pinnacle Real Estate Advisors who represented the Tenant in the transaction.
Our 1Q Commercial MarketAdvisor™ reports offer useful information for investors, tenants and landlords in Denver.
The metro Denver office market ended the first quarter of 2013 with positive 546,895 square feet of absorption which is down from the fourth quarter where 657,547 square feet was absorbed.
The Denver Industrial market ended the first quarter of 2013 with 567,232 square feet of positive absorption, this is down from the fourth quarter where 1.4 million square feet was absorbed.
The metro Denver retail market continued to improve and show signs of recovery in the first quarter of 2013.
Pinnacle Real Estate Advisors is pleased to announce that Kory Kenworthy has joined our team as an Advisor. Kory will be focusing on the office and land products types in both acquisition and disposition as well as leasing. Prior to joining Pinnacle, Kory was a residential broker. Kory has been in the real estate industry since 2002 and has won several top listing and selling agent awards during that time.
Click Here to Read Kory's Full Bio
Pinnacle Real Estate Advisors is pleased to announce that David De Sena has joined our team as a Retail Advisor. David focuses on retail tenant representation and works with businesses who are looking to open new locations, move, or downsize. Prior to joining Pinnacle, David worked for a retail and land developer and as a broker associate. David has been in the commercial real estate industry since 2005 and during this time has a history of ensuring performance objectives.
Click Here to Read David's Full Bio
Pinnacle Real Estate Advisors, LLC would like to congratulate our brokers that have been selected as Heavy Hitters by the Denver Metropolitan Commercial Association of Realtors, better known as DMCAR. Each year, DMCAR honors the top commercial real estate producers of in land, industrial, mult-family, office, investment, retail and small office broker categories. These top producers are known as the Heavy Hitters.
In addition, to naming Heavy Hitters, DMCAR also recognizes the top Young Brokers as well the Top Landlord companies in the office, retail and industrial categories. Last year, Matt Ritter, Principal at Pinnacle Real Estate Advisors, was paid tribute as Broker of the Year.
DMCAR is one of the oldest and largest commercial real estate trade associations in the United States. Consisting of over 2,000 commercial real estate professionals, DMCAR provides timely industry information, effective political advocacy, and the professional designations needed to provide the best possible service to your clients.
Pinnacle Real Estate Advisors had four brokers nominated as Heavy Hitters in the multi-family product type. Josh Newell, Pinnacle Real Estates Advisors 2012 Top Producer, was the number six multi-family broker in Denver. Jeff Johnson and Matt Ritter, Principals at Pinnacle Real Estate Advisors, tied for the number eight spot and Jules Hochman, Senior Advisor at Pinnacle Real Estate Advisors, was listed in the number 10 spot.
In the Young Broker category, two Pinnacle Real Estate brokers were selected. Robert Lawson, Advisor at Pinnacle, was selected for the number two spot and Jim Knowlton, Associate Advisor were selected for number three.
“The DMCAR Awards not only allow us to honor our commercial real estate brokers that are top performers in their area of expertise, but also to honor the impact of our profession as a whole in the Denver area. We are proud of our top sales professionals who have worked very hard throughout the past year,” stated Jeff Johnson, Principal at Pinnacle Real Estate Advisors.
“Pinnacle has experienced tremendous growth this past year and we are proud of our top producers and young brokers,” said Pinnacle Real Estate Advisors Principal, Matt Ritter.
Pinnacle Real Estate Advisors spent the morning volunteering at Project C.U.R.E., a non-profit that donates excess medical supplies to countries in need around the world. Pinnacle Advisors sorted and packed numerous medical supplies that will be shipped to various countries around the world. Click Here to learn more about Project C.U.R.E.
Littleton’s population is projected to increase nearly 5 percent by 2014. Not only is population increasing, the average rent in Littleton ($1,021) is 3.5 percent higher than the metro average of $986, not to mention the vacancy rate is just under 5 percent! These factors have encouraged developers to potentially add more than 2,000 residential units to the growing community in the next few years.
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Commercial Real Estate’s Leading Independent Research Service Recognizes Top Leasing and Sales Firms in the Industry
Pinnacle Real Estate Advisors, LLC has been selected by CoStar Group (NASDAQ: CSGP), commercial real estate’s leading independent research firm, to receive a CoStar Power Broker Award. This annual award recognizes the “best of the best” in commercial real estate brokerage by highlighting the U.S. firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases for the entire year of 2012 in their respective markets.
As the largest professional research organization serving the commercial real estate industry, CoStar is uniquely positioned to identify the top firms and brokers in each market throughout the U.S. All awards are based on transaction data maintained in CoStar's commercial real estate database, which is the largest independently researched database of commercial real estate property information available online.
Pinnacle Real Estate Advisors qualified as one of the top commercial brokerage firms in Denver based on total sale transactions closed during the year. In order to be selected for this honor, Pinnacle Real Estate Advisors was evaluated against other commercial real estate brokerage firms active in its region by CoStar Group, and subsequently ranked among the top firms in the market.
Pinnacle Real Estate Advisors significant commercial and apartment transactions that closed in 2012 included Riverside Downs, a shopping center, which traded at a price of $22,250,000; and 5100 Leetsdale, a 197 unit multifamily property that traded for $14,300,000. Pinnacle real estate brokers closed 211 sale and lease deals in 2012, up 15 percent from 2011.
“We are honored to earn the distinction as a top sales firm in the Denver market. Pinnacle Real Estate Advisors has top-notch sales professionals who work hard and we are proud of their accomplishments,” stated Matt Ritter, Principal at Pinnacle Real Estate Advisors.
“Pinnacle has experienced tremendous growth this past year and we pride ourselves on offering the best real estate services and solutions for our clients. Many thanks to our outstanding clients, they are truly what make this award possible,” said Pinnacle Real Estate Advisors Principal, Jeff Johnson.
"CoStar is proud to honor the firms and brokers who perform at the industry's highest level each year," said CoStar Group CEO Andrew C. Florance. "These industry leaders deserve to be recognized for their hard work, expertise and superior deal-making abilities. We extend our congratulations to this year's winners on their achievements."
The complete list of 2012 CoStar Power Broker Awards winners can be found at www.CoStarPowerBrokers.com.
Our 4Q Commercial MarketAdvisor™ reports offer useful information for investors, tenants and landlords in Denver.
The metro Denver office market posted positive 656,240 square feet of absorption in the fourth quarter, bringing year-to-date absorption to positive 1,075,981 square feet.
The Denver Industrial market ended the fourth quarter of 2012 with 1,419,789 square feet of positive absorption bringing year-to-date absorption to positive 3,885,074 square feet.
The metro Denver retail market ended the quarter with 602,587 square feet of absorption, bringing year-to-date absorption to 1,256,320 square feet.
According to Metro Denver Economic Development Committee, the estimated population of Metro Denver in 2011 was 2.83 million and is forecasted to continue increasing. With estimates of growing to a population of 3.2 million by year 2020, the city of Denver should experience an influx of more renters and a progressing business economy. Forbes published an article in 2012 ranking Denver 5th amongst the “Best Cities for Business and Careers,” only further signaling toward Denver’s bright future.
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