ASPEN, CO-A partially build mixed-use development that is in Chapter 11 bankruptcy proceedings will be up for auction in August. Sheldon Good & Co., which is holding the auction, tells GlobeSt.com that it is difficult to judge what the price that auction will fetch at this point because “the auction is being utilized to gauge the market as a price discovery technique.”
The site—at one time the location of the Stage 3 Movie Theater—now contains a partially-built, three-story building which, when completed, will house 30,000 square feet of residential, retail and office space.
The property will be sold absolute, regardless of price, with a suggested opening bid of $3 million, according to Jim MacDonnell, executive managing director of Sheldon Good’s Denver office, which will be managing the marketing and auction sale of the property.
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