Property Location: 19878 E. Hilltop Road, Parker, “Pinehill Crossing”
Property Description: 11,753-sf, multitenant strip center, YOC 2008
Land Size: 1.25 acres
Sales Price: $3.6M, or $306.30 per sf
Reception No: 2016029577
Closing Date: 5/12
Grantor: Pine Hill Building No. 2 LLC, Steven A. Weirich, mgr.
Grantee: Pinehill Crossing LLC, Edward E. Simpkins, 949-675-8791
Financing: $2.7M payable to Westerra Credit Union, due 6-1-26
Comments: Listed by Barry Higgins, Richard Bird & David Lee* of Marcus & Millichap Inc., 303-328-2000. The average rental rate for the center is $22.05 per sf. The center sold on an in-place cap rate of 7.2% and was 100% leased at time of sale. *David Lee is from other Marcus & Millichap office, 714-822-1835.
Comp of the Day is provided by by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.