NavPoint Real Estate Group Sells 74,607 SF Multi-Tenant Retail/Office Investment Property in Parker for $18,500,000
navpoint / September 19, 2019
Parker, CO – NavPoint Real Estate Group is pleased to announce it has completed the sale of Parker Station, a Multi-Tenant Office/Retail Investment property located in the heart of downtown Parker at 19751 E Mainstreet.
This immaculate physical asset is located in beautiful Old Town Parker, which is host to 50+ community events throughout the year, and boasts a strong mix of retail and office tenants. Parker is a fast-growing suburb of Denver with a current population of approximately 56,000 residents.
The buyer was Mountain Elk Ridge, LLC & CAIS Futures, LLC, a local partnership of private investors who were represented by Jeff Johnson of Pinnacle Real Estate Advisors. The seller was TD Commercial Investments, LLC, a local family office represented by John Witt and Matt Call of NavPoint Real Estate Group.
According to Witt, “The seller meticulously maintained Parker Station inside and out using sophisticated management, organizational, and accounting systems which resulted in high occupancy throughout the seller’s period of ownership, and for these same reasons the asset drew substantial investor interest. The buyer was a private investor coming out of a multi-family asset in a 1031 exchange and they were immediately attracted to the location and physical condition of the property resulting in a swift offer, contract, and closing.
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