Consolidated-Tomoka Land Co. has closed on the acquisition of a 19,596-square foot, newly constructed commercial building located in downtown Aspen, Colorado. The $28m sale includes a twenty-year master lease on the property with an affiliate of A.G. Hill Partners, of Dallas. The tenant is currently subleasing three of the retail spaces totaling 26 percent of the property. The building is located at E. Hyman Avenue and Hunter Street in downtown Aspen, approximately one block from the new Aspen Art Museum. The lease includes annual rent escalations, tenant repurchase options and is absolute net to the company.
