Big O Tires replacing residential development in Denver
Auto Services Return to Downtown Denver
After a deal that highlights the cooling development in the area, auto services are making a comeback at the edge of downtown Denver.
For over fifty years, the 2000 N. Broadway property housed a Firestone shop. However, the tire company closed the shop in recent years and sold the property in 2021 to Tennessee-based GBT Realty Corp.
GBT had plans for a 25-story residential building on the property, but the project never came to fruition. Last week, the property was sold to Greenwood Village-based investment firm Leeds West Group, led by Judd Shader.
Leeds West Group, known for operating stores under the Midas, Big O Tires, and SpeeDee Oil brands, will be opening a Big O shop at the Broadway site.
The property was sold for $3.5 million, a significant decrease from the $5.4 million GBT paid in 2021.
Broker Paul Cattin of Platinum CRE, who represented the seller, described the property as “highly active” and mentioned that it was under contract within the first week of being put on the market.
Development in Denver and across the country has slowed in recent years due to various factors like higher interest rates and construction costs.
The 2000 block of Broadway seems to be turning into a tire shop hub, with Goodyear operating across the street from the upcoming Big O shop.
