Mountain Meadows Mall
720-810 N. Main St., Gunnison, CO
- Property Type: Retail
- Size: 20,548 SF
- Date Closed: 08/18/2018
• The shopping center consisted of three separately owned strip centers that were a part of the same HOA (Home Owners Association)
• There was existing debt on the HOA and the current sellers wanted the new owner to assume it
• The sale consisted of two strip centers with two different owners
• The property had limited renovations over the years and needed significant capital improvements
• It was a unique deal with some unknown retailers on short term leases
• We took a targeted, hands on approach to marketing the asset by identifying buyers of similar assets.
• Quantum used its propriety database to create multiple offers from a variety of buyers across the country
• Quantum also vetted buyers who were comfortable with the current condition of the building and short term that remained on the lease
• Quantum was able to manage both sides of the transaction while all parties worked toward an amicable solution on the existing debt on the HOA.
• The transaction closed with a local buyer who bought both strip centers and worked to a resolution to the challenges mentioned above
• We were able to guide all parties through the complexities of the HOA, payments and other intricacies of the deal