Pinnacle Announces the Sale of The Elk Bridge Center in Evergreen, CO
Justin Krieger, Principal, and Thomas Graeve, Senior Advisor, at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale the Elk Bridge Center located at 32214 Ellingwood Trail in Evergreen, Colorado. The transaction closed on November 5, 2020 at $2,840,000 in an all-cash transaction. The property, a 19,220 SF two story retail center anchored by Centura Health, was approximately 94% occupied at closing. Justin Krieger and Thomas Graeve represented the seller, an out-of-state partnership, and Dan Emert and Brett Morganti of Red4Realty represented the buyer, a Colorado-based investor who purchased the property as part of a 1031 exchange. According to CoStar, this sale is the only retail investment transaction in Evergreen, Colorado in 2020.