The Avon’s Seasons building has been sold to a company that owns properties on the West Slope



The Seasons building in Avon has been sold.
Fortius Capital / courtesy photo

The first floor of the Avon’s Seasons building has a new owner: Gibson Avenue Capital of Atlanta. But the company has local roots.

Gibson Avenue founder and CEO Scott Tarbet grew up in Aspen, and the company’s holdings include commercial properties on the West Slope. In a phone conversation, Tarbet said he and the company understood the economy and communities in the region.

That’s why almost the first thing he mentioned was the company’s intention to keep and improve the Prater Lane daycare center in the north-west wing of the building.

“The acquisition of Seasons from Avon was an incredible opportunity to purchase irreplaceable real estate in a growing and vibrant mountain town,” Tarbet wrote in an email. “Our first priority is to invest capital in Prater Lane Daycare and provide them with a long-term platform to continue operating and serving the residents of Avon. We appreciate and understand that Seasons at Avon is a great place for babysitting and know how critical this use is in the region. As such, we want to do our part to ensure that Prater Lane stays at Seasons at Avon for decades to come.

In addition to Prater Lane, the Seasons building also includes offices used by Vail Resorts. The building was once the company’s headquarters. Vail Resorts, along with Gart Properties, sold the building to Gibson Avenue.

Slifer Smith & Frampton Real Estate has leased a large portion of the 71,000 square feet of commercial space for its Slifer House office complex. The building, which is 85% occupied, also has space for a bank and other shops and offices.

With the exception of Vail Resorts which is giving up some office space, all businesses with a current lease will stay where they are.

Tarbet said Gibson Avenue intends to modernize the existing vacant space, much of which has remained largely untouched since at least the 1990s.

While there isn’t much demand for large retail space these days, Tarbet said he believes there is a demand for space for small businesses, retailers. retail and service companies. Land is hard to find, of course, and the Seasons has a great location, close to the Westin Riverfront Resort and Spa as well as the Avon Library and Leisure Center.

Erich Schmidt is the vice president of brokerage for Fortius Capital, which negotiated the sale.

Schmidt said there is a lot of activity these days in Avon. The Piedmont Apartments, along with the final stages of the Westin Riverfront project, promise to bring an increase in the number of visitors and residents.

This kind of population growth can drive demand for new businesses, Tarbet said.

Schmidt said the demand for retail space has changed in recent years, with the arrival of more institutional buyers.

“We are selling (to potential buyers) on the fact that there is no (vacant) land here and that they are not earning more,” Schmidt said, adding that the Seasons’ location is almost ideal.

The buyer was important to the transaction, Schmidt added. Tarbet knows the communities and markets in the region.

“It’s part of being a qualified buyer,” Schmidt said, adding that was what Vail Resorts and Gart Properties were looking for. This partnership has owned the building for about 30 years, Schmidt said.

“They care who bought it,” Schmidt said.

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