Real Estate: Investors purchase vacant Fred Schmid retail facility

FORT COLLINS – Languishing as one of the city’s signature vacant buildings for more than a year, the 32,000-square-foot former Fred Schmid building is under new ownership.Located at 4950 S. College Ave., the office and showroom building has been idle since the bankruptcy of the Fred Schmid consumer-electronics and appliance chain. Last month, however, a group of local investors acting as 4950 S. College LLC purchased the site for $1.3 million.
Fretter Real Estate of Ohio and Rhys Christensen of Realtec Commercial Real Estate Services Inc. handled the deal.
Christensen now is marketing the property to prospective lessees.
Already, a…