BMC West changing hands
ASPEN Three Western Slope BMC West lumber and hardware stores, including the one in Aspen, are being sold to a Grand Junction building supplies dealer.A spokesman for the buyer declined to reveal the price for the deal, but he did say the purchase also included the real estate in both Glenwood Springs and Steamboat Springs, but not in Aspen.According to Harbert Lumber Co. senior vice president Richard Goodman, the 4.8-acre site at the Aspen Business Center is worth too much money to have a lumber yard on it. He hinted that the lot alone might command a price as high as $20 million.Rather than buy the land and building, HLC is leasing them for a term he declined to reveal, calling it proprietary information. He said BMC West has been doing research on the local real estate market and is likely to offer it up for sale at some point in the future.Meanwhile, Goodman said, Its a good business, and we have a lease where we can operate it. He said the lease is written so that any buyer would have to honor Harberts lease term, but added, Well be looking for a new location right off the bat.As for why Building Materials Holding Corp., the parent company of BMC West, is selling its Western Slope operations, Goodman said BMHC is shifting its business plan. He said BMHC wants to be in large metropolitan markets working with developers of tract homes; several of the corporations Front Range locations have been closed or merged with other stores. BMHC officials could not be reached for comment.Goodman once worked for BMC West; he contacted BMHC when he heard about the corporations changing business plan. Negotiations began in earnest in October 2005, and the sale is scheduled to close next week.We were just informed Thursday, said Aspen manager Levi Borst. It seems like absolutely nothing changes, except the name over the door and the name on our paychecks.Borst said the company has had a pretty good year, and that it has not been adversely affected by a nationwide downturn in the housing market.He indicated he was happy about the sale, saying, Now were Western Slope [owned]. Its not a publicly held company, so well keep the money on the Western Slope.According to the companys website, http://www.harbertlumber.com, Harbert Lumber Co. was started in 1937 by Glenn Harbert and has been a family operation through three generations.Aside from the three locations purchased recently, Harbert Lumber also owns and operates NorthStar Lumber in Edwards, Colo.John Colsons e-mail address email@example.com
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