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The Colorado Trust is downsizing from its current space in Cap Hill.
The Colorado Trust is downsizing from its current space in Cap Hill.
The expected buyer is local and considers Industry a “trophy building.”
“It just got caught in a combination of a hurricane, a cyclone and a tornado — all three combined,” said the building’s developer.
The station sold its property at Speer and Lincoln to a developer in 2021.
The owner bought it for $420,000 in 2012, then took out $4 million in loans on it between 2018 and 2022.
Zeppelin Development had wanted Cordes & Co. to get the job.
It’s the company’s second time raising money from small investors through the website Wefunder.
“The pressing plant has not demonstrated the ability to press vinyl records in a timely or professional manner.”
If a receiver must be appointed, don’t pick The Stapleton Group, Zeppelin argues.
A judge ultimately sided with lender Wells Fargo rather than Zeppelin Development, which said it is appealing.
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