Boom Oddfellows Hall: Still Almost Sold
posted by October 25 at 13:20 PMon
Finally, a bit of official news (and not just rumor) about the impending sale of the Oddfellows Building. A letter of intent, from Redside Partners (the new property management company), went out to Oddfellows tenants yesterday:
As you may have heard, the Odd Fellows building is being sold. The closing of the sale will occur in early January 2008. Our intent is to update the building systems while retaining and/or restoring much of the original charm The Odd Fellows intended almost 100 years ago. Significant changes in layout are planned for the retail and office (top floor) levels of the building.
While many of these projects may be inconvenient for you, we will make every effort possible to minimize these inconveniences.
The new management company for the building will be Redside Partners, LLC. We would be happy to discuss our plans with you either in person or over the phone.
We look forward to meeting and working collaboratively to make this transition as smooth as possible.
Sincerely, Craig M. Swanson Redside Partners, LLC
That doesn’t sound good for the running store on the first floor.
The small businesses and nonprofits on the second and third floors are also nervous. One says that tenants in other Redside buildings pay $35 per square foot and that everyone in the Oddfellows is paying less than $10.
(In this article, I wrote that Ted Schroth—of the Trace Lofts—is rumored to be the new owner. Though his name doesn’t appear in the letter above, tenants say he’s definitely involved and was walking around the building this morning with appraisers.)