Friends of Chief seeks extension
The community group seeking to buy the Chief Plaza Theater is negotiating the terms of a contract extension while it continues to work on approval of a U.S. Department of Agriculture loan for the purchase. Friends of the Chief spokesman Jim Cook said the group continues to be optimistic about obtaining the loan.
The amount of the contract has not been disclosed, but owner Michael Barry was asking $2.8 million for the historic movie theater. The estimated cost of acquiring and remodeling the property to offer a single stage is $8.8 million.
Steamboat Springs Realtor Jim Cook confirmed Wednesday that Lincoln Avenue is set to see an Under Armour-branded retail store.
Cook, who represented the lease offering at 729 Lincoln, said the landlord is Aspen Realtor Ernie Fyrwald. Great Outdoor Clothing Co., which specialized in discounting many brands of discontinued men’s and women’s lines of outerwear, formerly occupied the 2,500-square-foot space.
Cook said that unlike the Under Armour store on East Durant Avenue in Aspen, the Steamboat Springs store would not be corporately owned. Under Armour has expanded the width and breadth of its clothing lines, and the Steamboat store can be expected to carry clothing lines for a variety of sports, Cook said.
Fyrwald, who is a principal in Morris & Fyrwald Sotheby’s International Realty in Aspen, told Cook that the Under Armour store there is successful.
A current Steamboat retailer would operate the local store, Cook said.
Under Armour has garnered industry attention this year for its Eliminate MPZ line, which builds padding into base layers for athletes from football players to snowboarders.
Cook said the lease agreement would be structured with the intent of ensuring the success of the retailer.
Fyrwald bought the building in 1992, according to Routt County records, and transferred it to a family partnership in 2000. It is valued for taxes at $2.5 million.
Great Outdoor Clothing Co. opened in winter 2004 and closed in August.
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