The building at 264-268 Detroit St. in Denver sold for $6.6 million. (Thomas Gounley)
The owners of Max Clothing Stores have sold their Cherry Creek building for a 250 percent return on the price they paid in 2010.
Max Squared LLC, which is controlled by Max Clothing Stores owners Scott Seale and Max Martinez, purchased the property in June 2010 for $2.6 million, according to city records.
The buyers were William and Sheri Gold, who paid $6.6 million last week for 264-268 Detroit St., according to property records.
Roche Fore of Buell & Co. represented the buyers in the transaction.
Seale and Martinez said in a statement the clothing store will continue to occupy the space for now, but a move to a new location in the neighborhood is planned.
Seale said he purchased the property “mid-recession when vacancy rates in Cherry Creek North were the highest we had seen in 15 years.”
The 6,200-square-foot building was built in 1983, according to city records. It sits on a 0.2-acre lot, which, unusually for the neighborhood, includes several parking spaces.
Max Clothing also has stores in Boulder and Aspen.
The building at 264-268 Detroit St. in Denver sold for $6.6 million. (Thomas Gounley)
The owners of Max Clothing Stores have sold their Cherry Creek building for a 250 percent return on the price they paid in 2010.
Max Squared LLC, which is controlled by Max Clothing Stores owners Scott Seale and Max Martinez, purchased the property in June 2010 for $2.6 million, according to city records.
The buyers were William and Sheri Gold, who paid $6.6 million last week for 264-268 Detroit St., according to property records.
Roche Fore of Buell & Co. represented the buyers in the transaction.
Seale and Martinez said in a statement the clothing store will continue to occupy the space for now, but a move to a new location in the neighborhood is planned.
Seale said he purchased the property “mid-recession when vacancy rates in Cherry Creek North were the highest we had seen in 15 years.”
The 6,200-square-foot building was built in 1983, according to city records. It sits on a 0.2-acre lot, which, unusually for the neighborhood, includes several parking spaces.
Max Clothing also has stores in Boulder and Aspen.
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