Hey, Spike! reports on big downtown Frisco sale
October 18, 2012
Like a long-suffering, slumbering giant, the Frisco Mall is awakening – hopefully.
Having languished in foreclosure since earlier this year, after a longer period of stagnation, the downtown Denver law firm of Ryley Carlock and Applewhite, represented by Lawrence “Lonny” Donovan Jr., helped Denver and Copper resident Kim Koehn get Vectra Bank off the hook under the name Beaver Frisco Mall LLC.
The price, according to public records, was $3.025 million.
Talking on Thursday with the new owner, who represents a group of 12 East Coast investors, it was learned that Kim has been in Frisco weekly, guiding the purchase of the mall, which will undergo needed refurbishment and renewed leasing activity.
Kim, 56, has owned at Copper since 2000.
Currently, the three-story structure, painted black and chartreuse, which pleases some and others not so much, is home to The Next Page, Jonny G’s, Omni Real Estate, Himalayan Cuisine and Flying Crane on the front side, among others on the interior.
Built in early ’80s by John Muirhead, and later purchased by Frisco Station developer Tom Seabrook Sr., and managed by Tom Jr., the mall was bought by motorcycling Michael Hilbert, who lived in Water Dance.
Michael had a collection of sport bikes and was part of the Denver-based Western Capital Partners. That group had been part of loaning the now-defunct Yellowstone Club Ski Resort some $32 million along with Credit Suisse, which threw in a couple of hundred million. The club fell into foreclosure, and apparently – indirectly – put the hurts on Michael.
He had renovated the retail, restaurant and office location, with hopes of having a music venue on the second floor, behind the massive opening windows, but the tightening economy prevented a completion of the plan.
When Michael made the mall purchase in 2008, he also bought the adjacent to-the-east building for a total of $4.56 million. That portion now houses Cornflower Boutique, Hunter-Douglas Windowscapes and A Garden of Eden floral shop. Like the mall, that building was taken back by Vectra and included in the purchase this week.
Initially, the real winner is the town of Frisco, which, via its 1 percent property transfer fee, picked up $30,250, according to town hall tax guy Chad Most.
Falling snow in measurable amounts provided a fitting backdrop to Don Peterson’s celebration of life Saturday at Copper Mountain Resort, the ski area he was instrumental in bringing to fruition.
Employee No. 3 died at age 80 on Sept. 28.
The Air Force pilot and engineer went on to become a custom jeweler at Summit Gold, Summit County commissioner and Frisco town councilperson.
Joining family members, wife, Jane; daughters Lyn Philips and husband, Dave, and Donna Bass; granddaughters Ashley and Whitney Bass and Katherine Philips; and Don’s sister, Carol Gillette, were a couple of hundred friends of Don.
There were tales told along with highlights of Don’s efforts with Chuck Lewis and Tyler Dodge in developing the ski trail system and the base village, which opened in the early ’70s.
Among those honoring and remembering were:
Rob, Jude and Piper Mitchell, Ray and Pooh Bishop, Penny and Vonda Lewis, Frank Walter, Tom and Diane Malmgren, Ann McCrerey, Vi Effinger, Kevin Williams, Rick Hein and Linda Roberts, Jim and Lynda Colety, Woody and Melinda VanGundy, Terry and Traci McGeehan and grandson Aden, Steve Daniels, Randy Hodges, Phil and Lindy Wilson, Mark and Colleen Richmond, Jerry Stinnett, Jim and Cheryl Walsh, Bernie and Bo Zurbriggen, Vern Bass, Bobby Kato, Susan and Gil Smith, Jimbo Deines and Linda Simon, Steve Smith, Mark Sabatini, Brad Woods, Tom Eble, Rick and Judi Amico, Sharil Caffery, Mike and Margaret Smith, Tom and Donna Upton, Brian Johnson, Jon and Marie Zdechlik, Rob, Trevor and Talya Philippe and Val Weber, Danny McCrerey, Bobby and Susie Magrino, Chris Colman, Chris Eby, Jim Bull, Gary Lindstrom, Teri Booth, Pat and Larry Schmidt, Paul Greco, Mary and Kelly Faber, Alicia and Peter Dunn, Don Dew, Mike and Betsy Cuthbertson, Kouri Wolf, Liz Hodson, Pat and Dale Butler, Barb and Bruce Hodson, Henry Barr, Jay Brunvand, Sandy Greenhut, Dennis Krueger, Bob Kluge, Lynn Bauer, Emily Baumgartner, Clarence and Phyllis LaBarr, Steve Skulski, Bruce Cochran and Pam Cain, Lynn Mosbaugh, Dr. Jim Bachman, Maxine Thomas, Dr. David Rolf Amli, Danny and Patty Hurd, Kristy Pauley, Sherry Wofford, Rachel Trattler, Carolyn Kosabucki, Paul Dodds, Ethenie Johnson, Rod and Heidi Thomas, Mark and Tina White, Ben Grove and Colin Gador.
Miles F. Porter IV, nicknamed “Spike,” a Coloradan since 1949, is an Army veteran, former Climax miner, graduate of Adams State College and a local since 1982. An award-winning investigative reporter, he and wife, Mary E. Staby, owned newspapers here for 20 years. Email your social info to firstname.lastname@example.org.