Denver Entrepreneurs Building Pawnshop Empire, Pay $4.2 Mil for CO-Based Chain

DENVER-Two entrepreneurs are taking over 13 US Pawn Inc., in a move to become the largest chain of privately owned pawnshops in the nation. They are paying $4.2 million for the Colorado operation and eyeing another deal in Los Angeles.

By John Rebchook | Updated on November 10, 2000

DENVER-Local entrepreneurs Bill Piper and Todd Hills are paying $4.2 million for the largest pawn store chain in Colorado.

Piper, 35, and Hills, 36, are buying the “bricks and mortar” and the assets of the 13 US Pawn Inc. chain, a publicly traded company based in Westminster, a northwest suburb of Denver. The two already own six pawnshops in the Denver area and one in Wyoming. US Pawn, which has been losing money, is publicly traded, but Piper and Hills plan to merge the 13 stores with their privately held company. They are not buying US Pawn’s stock, which trades at about $1, down from a high of about $4.75.

Their Denver deal will likely close in late 2000 or early 2001. They also are looking at buying a 15-store pawn shop chain in Los Angeles. Ultimately, their goal is to build the largest chain of privately owned pawnshops in the country.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

Retail

Recommended Stories

Multifamily Concessions Are Up While Renewals Fall

Erik Sherman | March 31, 2023

New lease trade-outs plummet nationally.

Fewer Multifamily Deals Are Repricing as Construction Materials Costs Moderate

Courtney Fingar | March 31, 2023

Developers are using mitigation strategies for some materials but they can’t be applied to all categories.

Pebblebrook Hotel Trust Sells Coral Gables Hotel for $63M

Courtney Fingar | March 31, 2023

The REIT acquired the hotel in 2014 for $59 million.

Resource Center

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

White Paper

Sponsored by Placer Labs Inc.

Navigating a New Normal in Business Travel

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

Browse More Resources ›

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

White Paper

Sponsored by Placer Labs Inc.

10 Top Retail Brands to Watch in 2023

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

Browse More Resources ›

The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. What does this mean for CRE professionals? Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data.

eBook

Sponsored by PwC

Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility

The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. What does this mean for CRE professionals? Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.