ASPEN, CO-A partially build mixed-use development that is inChapter 11 bankruptcy proceedings will be up for auction in August.Sheldon Good & Co., which is holding the auction, tellsGlobeSt.com that it is difficult to judge what the price thatauction will fetch at this point because “the auction is beingutilized to gauge the market as a price discovery technique.”
The site—at one time the location of the Stage 3 MovieTheater—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 asuggested opening bid of $3 million, according to Jim MacDonnell,executive managing director of Sheldon Good’s Denver office, whichwill be managing the marketing and auction sale of theproperty.
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