Pinnacle Announces Sale of 100% Occupied NNN Retail Asset
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 12302 E 104th Pl located in Commerce City, Colorado. This retail property was built in 2007 and is located at the intersection of 104th & Highway 2. The 100% NNN leased property sold on March 8, 2019, at a 6.4% cap rate, for $2,440,000. Corey Sandberg and Jeff Johnson, with the Johnson Ritter Team, represented the Buyer in this transaction.
“Our client was able to fulfill their 1031 exchange with an asset that had long term, annually increasing, absolute NNN leases, in place. Their goal was to obtain a low-maintenance asset providing a healthy return.” stated Corey Sandberg with Pinnacle Real Estate Advisors.