MONTROSE, Colo. (KREX) — A buyer has been found for the former Russell Stover building in Montrose.
Russell Stover gave the community notice in January 2020 that the building would close. When the COVID-19 pandemic hit in March, the closing of the building happened quickly and the building was vacated in August of the same year.
An investor purchased the 278,000 square-foot building in late 2021. That investor then defaulted on payments and the building was bought by one of the two lenders who helped the original buyers.
The junior lender then sold the building to the current owner Red Nile, LLC in late 2023.
Executive Director of Montrose Economic Development Corp. Sandy Head, who was in charge of maintaining the building until it was purchased, told WesternSlopeNow that the building was a great opportunity for food storage sitting on 21.7 acres with nine loading docks.
The foreclosed sale of the building took place the first week of June 2024.