Pine Creek Office
4700-4760 Oakland & 4705-4755 Paris Denver CO 80239
Description
Pine Creek Office consists of six, one story office buildings. These buildings were only 50% leased when purchased in December 1998. We quickly renovated all of the common areas and implemented an aggressive marketing campaign. In 2016, ownership decided this was not a long-term core asset and sold the property. Proceeds of the sale were used to purchase a newer retail center.
Details
| Cost PSF $32.97 | Acquisition Price $1,900,000 | Total Cost $2,100,000 |
| Acquisition Date Dec, 1998 | Sale Price $3,200,000 | Sale Date July, 2017 |
| Total Project Size 63,690 SF | Add. Capital Costs $200,000 | Avg Annual Return 12% |
| Status Sold | Sale Price / SF $50.24 |