Used car seller Carvana has opened its car “vending machine” along Interstate 25 in Denver.
The 75-foot glass tower at 4700 E. Evans Ave. opened Wednesday morning and is the first in the state, according to the company.
Arizona-based Carvana purchased the 1.5-acre site for $5.8 million in April 2021 from Denver-based Focus Property Group. The Denver City Council rezoned the site the previous month.
Customers who purchase a car from Carvana can have it delivered in some markets, or pick it up at one of the company’s vending machines. There are 34 car vending machines around the country, counting Denver.
When picking up from the vending machine, customers are given a custom coin to insert that activates the delivery system and brings the vehicle down to the showroom. Denver’s car vending machine can hold up to 27 vehicles.
Carvana’s Denver tower sat empty but seemingly complete for months prior to Wednesday’s opening. That and the company’s financial troubles prompted some speculation about whether the facility would ever open.
Shares of Carvana stock closed at $10.07 on Wednesday. That’s down 97 percent from a peak of about $360 in August 2021, although it’s double what shares started this year at.