NavPoint Real Estate Group Sells 50,000 SF Multi-Tenant Mixed Use Investment in Castle Pines for $10,275,000
navpoint / December 8, 2020
Castle Pines, CO – NavPoint Real Estate Group is pleased to announce it has completed the sale of Village Square at Castle Pines, a Multi-Tenant Retail/Office Investment property located at 361-363 Village Square Lane, and 7437-7439 Village Square Drive in the heart Castle Pines.
This immaculate physical asset is located just off Castle Pines Parkway in direct vicinity of The Village at Castle Pines, a gated golf community, as well as multiple planned residential developments including The Canyons. Castle Pines is a fast-growing suburb of Denver with a current population of approximately 10,500 residents. With tenants such as Dukes Restaurant and Saloon, Pino’s Italian Kitchen, Brandon Lynn Orthodontics, PC, and Wellhaven Pethealth CO, LLC, this property has been in high demand and stayed highly occupied on a historical basis.
The buyer, ProTerra Properties, was represented by Landmark Brokerage. The seller, PMT Partners XIV, LLC, was represented by Matt Call of NavPoint Real Estate Group, John Witt of Quiver Investments, and Ian Elfner of Pinnacle Real Estate Advisors.
“We had a tremendous amount of activity during the marketing period and quickly went under contract with ProTerra after they expressed initial interest. Our team was able to navigate the obstacles associated with Covid pre-contract and during due diligence. Pro Terra was a huge believer in this excellent location on a long-term basis given all the ongoing adjacent development. The varied rent roll and strong demographics along with some problem solving by the transaction team allowed us to close this deal before year end,” commented Matt Call of NavPoint Real Estate Group.
This transaction successfully closed in December 2020.
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