Former Goodyear Tire site sells in Old Town

Date: Sep. 19th, 2011
Contact: Pete Meyer Phone: 970.672.1007

A prime redevelopment site in Old Town has been sold. 221 Mountain Street, the former Goodyear Tire site, was purchased for $1,175,000 by 221 East Mountain, LLC, a property specific entity of investor/developer MAVDevelopment, on September 7.

The property, sold by VANM, LLLP, consists of a 19,500 SF site and a 7,792 SF industrial building with 5 drive-in bays, a showroom area and 24 exclusive customer parking spaces.
Brinkman Partners brokers Kevin Brinkman and Josh Guernsey brokered both sides of the deal.

Ann Arbor, Michigan-based MAVDevelopment specializes in real estate investments throughout Michigan and Colorado, having been a part of over $700 million in successful developments since 1989. In the immediate future, they will lease the existing space on a short-term basis. As the market fully recovers, they will begin plans for the design and development of the site into a Class A office building.

“We have always found the Fort Collins market as a great place to do business. The location of the 221 Mountain site is ideal for a Class A office building that can house some of the city’s top businesses right in Old Town. The timing of this deal will work well as it will allow us to fill the space in the short-term while we work on the overall development and approval process,” said Rob Aldrich, president of MAVDevelopment.

MAVD is also developing Harmony Technology Park at Harmony Road and Technology Parkway in Fort Collins. Upon purchasing the site in 2008, they have positioned it as a first-class center for office, retail, flex and light manufacturing users.

“We are excited to have such a knowledgeable and innovative developer acquire this significant site for future redevelopment in Old Town. We have been able to build a working relationship with MAVD and have seen their dedication to generating successful business in Fort Collins. We think this developer, paired with this site, can only lead to great opportunities,” said Brinkman.