Tavern Littleton sells for $2M on Colorado real estate market
Rees Davis Expands Real Estate Portfolio with Purchase of Tavern Littleton
Colorado native Rees Davis recently made a significant investment in the heart of Littleton by acquiring the former Tavern Littleton on Main Street. The 6,000-square-foot, 2-story restaurant building was purchased for $2.4 million, at a rate of $388 per square foot.
Davis, along with his investors, now owns an entire block of Main Street in Littleton, comprising a total of 27,000 square feet of office, retail, and restaurant space. He has expressed interest in finding a new tenant for the Tavern Littleton building that will utilize both floors.
In a strategic move, Davis sold a portion of his real estate holdings on the corner of Curtice and Main to Frank Schultz and Terry Papay in 2010. The duo subsequently operated the Tavern at the location until its closure in February 2024.
Pat Henry, representing the sellers in the recent deal, mentioned that Davis plans to renovate the building, which influenced the final sales price. Despite previous setbacks, including the foreclosure of Tavern Uptown by former Broncos quarterback John Elway, Davis remains optimistic about the potential of his real estate ventures.
Other properties owned by Schultz and Papay have also seen successful transactions, with industrial properties selling quickly and a corner building in LoHi finding a buyer. However, there are still ongoing listings for properties in LoDo and Tavern DTC.
While some ventures, such as the conversion of the DTC location into a Cherry Cricket, did not materialize as planned, Davis and his team continue to explore new opportunities in the competitive real estate market.
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