Aspen Skiing Co. buys midvalley site for ‘very favorable price’ | AspenTimes.com

Aspen Skiing Co. buys midvalley site for ‘very favorable price’

BASALT – The Aspen Skiing Co. added to its swelling inventory of land in the midvalley recently by acquiring property at the Basalt Industrial Center in a bank sale.

The Skico purchased an 8,800-square-foot warehouse and an acre of vacant land for “a very favorable price,” said Dave Bellack, the company’s senior vice president and general counsel. He said the sale price was $1.1 million. A special warranty deed recorded with the Eagle County Clerk and Recorder showed that the property sold for $1 million. It was unclear Wednesday if personal property was included in the deal to push the total to the $1.1 million Bellack identified.

The property at 237 Park Ave. was sold by Summit Bank and Trust, which had foreclosed on the prior owner. The bank held a deed of trust for $1.9 million from 237 Park LLC.

The property, just off Willits Lane, has approvals from the town of Basalt for an additional 20,000 square feet of light industrial space and two affordable housing units. Bellack went before the Basalt Town Council Tuesday night seeking an extension of the approvals for another year. He said Skico moved quickly to acquire the property, but hasn’t had time to assess if it will build what’s approved or seek an alteration. Whatever is ultimately built will be light industrial, which Skico needs, Bellack said. That could range from a shipping-and-receiving station to a vehicle maintenance shop, he said.

Skico’s other holdings around Basalt include: the Aspen-Basalt Campground, a 6.6-acre parcel east of Willits; the Stott’s Parcel, a 1.55-acre vacant lot along Southside Drive; and a 1.1-acre vacant lot in the Basalt Business Center adjacent to Big O Tires.

scondon@aspentimes.com

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