Pinnacle Announces Sale of Retail Building in Olde Town Arvada
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 5707 Olde Wadsworth Boulevard. This two story retail property consists of 5,200 SF and was built in 1920, with renovations taking place in 2016. The building is on Olde Wadsworth Boulevard in the heart of Olde Town Arvada. The property sold on June 19th, 2017 for $1,537,500 or $295.67 per square foot. Peter Sengelmann, Advisor with the Johnson Ritter Team, assisted both the Buyer and the Seller in the transaction.
“The Seller purchased the property as part of a portfolio last fall,” stated Sengelmann. “The Buyer envisions long term value in the Olde Town Arvada market as the scheduled opening of the light rail approaches, and was excited to find a property which helped fill a 1031 Exchange within that area.”