Kobey building fetches $10.5M | AspenTimes.com

Kobey building fetches $10.5M

Janet Urquhart

The historic Kobey building on the Hyman Avenue mall has sold for $10.5 million, according to documents filed last week in the Pitkin County Clerk and Recorder’s Office.Dallas-based Loma Alta Corp. sold the commercial/residential building to Silver Slam Commercial LLC, documents indicate.”It wasn’t really officially on the market,” said Ruth Kruger of Kruger and Co., who brokered the deal. “It was an unsolicited offer.”The building, known by longtime locals as the SportsStalker building for the sporting goods retailer that once operated there, has been home to Quiksilver, a surf/snowboard retailer, for about a year.The store has a long-term lease for the space, Kruger said.The building also contains a free-market residence above the retail space.Built circa 1886, it was once home to the Kobey Shoe and Clothing Co., an apparel shop for men and boys. The store space was vacant for roughly six years after SportsStalker left. It had been listed for sale for $6.2 million in 2001 but was pulled off the market and remodeled. The building’s historic facade was restored as part of that project.The Kobey building is but the latest downtown building to change hands in Aspen’s hot commercial real estate market. It was purchased for almost twice the $5.4 million value the Pitkin County assessor’s office assigned it.The new owners are a group of both local and out-of-town investors, according to Kruger. A Birmingham, Mich., address is listed for Silver Slam on documents filed with the clerk and recorder.Janet Urquhart’s e-mail address is janet@aspentimes.com