ByAdmin|Oct 9, 2018|Industry News, Local Real Estate, News
Boulder-based developer secures loan for project in Denver
BOULDER — The building that houses downtown Boulder’s Liquor Mart has been sold for $16.6 million.
It is unclear what, if any, impact this sale will have on the operations of the 32,000-square-foot store.
The building was owned by prominent Boulder development firm W.W. Reynolds Cos. That company sold the 1.7-acre property at 1750 15th St. to a group called Core Boulder 15th Street, LLC, according to public records.
Core Boulder is an entity of Chicago-based Core Spaces, which specializes in developing collegiate student housing.
Representatives for Core Spaces could not be reached for comment and an employee at Liquor Mart declined to comment.
Jeff Wingert, a partner at W.W. Reynolds, said the Liquor Mart’s lease was still in place when the property changed hands. But he could not comment what Core Spaces may decide to do with the property in the future.
W.W. Reynolds bought the property in 2016 for $9 million. At that time, Liquor Mart representatives told BizWest that the store had signed a long-term lease and the sale would not impact operations.
The liquor store’s current ownership group has owned the business since 1982, but Liquor Mart has been somewhat of a Boulder institution for nearly 50 years.
The business was the largest liquor store in town until 2012, when a group of local investors opened the 35,000-square-foot Hazel’s Beverage World at 1955 28th St.
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