Colorado Real Estate Journal -

Investors acquire Mountain Center of Avon for $9.8m

by Jennifer Hayes

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A local investment group picked up a mixed-use property in the heart of the Vail Valley for $9.8 million.

Avon Mountain Center LLC purchased the Mountain Center of Avon, an 80,000-square-foot office/flex/self-storage building located at 910 Nottingham Road in Avon in a cash-flow play, according to transaction broker Mike Pearson of NAI Mountain Commercial.

Originally built in two phases in 1987 and 1991, and renovated in 2006, the building is located at the end of Nottingham Road with direct frontage on Interstate 70.

Mountain Center of Avon comprises 35 percent of self-storage space with the balance consisting of flex space. The self-storage units were 88 percent occupied at the time of sale while the flex space was 90 percent occupied.

The property can accommodate users from 1,000 sf to 10,000 sf and features units with garage doors or units with storefronts.

Tenants at Mountain Center of Avon include M-Tech, Keeplan Winter Sports, Western Fire Place Supply and Capco Tile.

Lund Capital Group sold the property.

Other News

The historic Nordic Inn in Mount Crested Butte is up for sale.

The 12,000-square-foot bedand-breakfast, featuring 27 guest rooms and family owned for 40 years, is being offered for sale for $3 million.

The 2.89-acre site at 14 Treasury Road, at the base of Crested Butte Mountain Resort, is approved for the development of 83 units.

Jerry Jones of Prudential Commercial Real Estate is marketing the property.

Medco Professional Services Corp. recently leased 3,000 sf at 401 E. Main St. in Trinidad.

Dave Bacon of Sierra Commercial Real Estate represented landlords Gordon and Patricia Kelly in the lease. Kevin Spector of Kevin Spector Inc. was the cooperating broker.

The Pa Gomo estate and a luxury ski-in/ski-out cabin in Telluride and Mountain Village, respectively, will both sell at auction without reserve July 12 through New York City-based Concierge Auctions. Pa Gomo was originally listed for $20.5 million while the See Forever Village Cabin 2 was originally listed for $3.7 million.

Each property will sell to the highest bidder regardless of price in cooperation with Steve Catsman of Telluride Real Estate Corp., an affiliate of Christie’s International Real Estate.

The Pa Gomo estate is located on a 35-acre lot at 680 Hawn Lane and comprises more than 10,000 square feet and includes five bedrooms, six outdoor living areas, a gourmet summer kitchen and garden, sauna and outdoor shower.

The cabin, located at 156 Country Club Drive, comprises 3,700 sf and features four bedrooms, four bathrooms, a gourmet kitchen and heated outdoor decks.