Purgatory Resort owner purchases Mercury building in Durango – The Durango Herald
No plan has been finalized for the reallocation of the 81,380 square foot commercial space
Mercury Village has changed ownership, but remains in local hands.
Businessman James Coleman bought Durango’s largest commercial building from FIS Worldpay on Friday after the space had been vacant for many months.
“The building symbolizes not only the ideas and progress of Durango, but also the beauty of the outdoors and the blending workspace,” Coleman said in a press release announcing the sale. “This building is important to our community and it is important that it be used to its full potential for Durango.
Coleman, the managing partner of Mountain Capital Partners, which owns Purgatory Resort and several other ski areas in the southwest, purchased the 81,380 square foot building at 150 Mercury Village Drive, just south of the Durango Mall. in a separate private transaction from Mountain Capital Partners. .
Terms of the deal, including the price Coleman paid for the building, were not disclosed but conversations had been ongoing for several months, a Coleman spokeswoman said.
Coleman and his team are weighing options to reallocate the property, but the plan is to transform the building into mixed-use commercial, office and residential space, said Tracy Reynolds, structural architect and senior engineer at the architectural firm and engineering firm based in Durango, Reynolds Ash. + Associates.
Reynolds, the La Plata County Economic Development Alliance and other community partners are working with Coleman on the project.
“The building is great. It’s just immaculate (and) in perfect condition; it’s pretty amazing, ”he said.
“Looks like it’s brand new, inside and out. It has very high ceilings, lots of windows and lots of square footage. It’s a large open floor plan right now, which is perfect for dividing into condos and offices, ”he said.
The building spans 13.5 acres and overlooks the Animas River. It includes approximately 60,000 square feet of office space, a small medical clinic, a café, and a fitness center with changing rooms.
Mercury Village also received a LEED Silver designation for environmental building practices when it opened.
“(Mercury Village) is where a lot of local ideas are born and that’s important to Durango,” said spokesperson Stacey Glaser. “James lives in Durango. He wants to see the best for Durango and wants (the) community to thrive. This building is certainly an opportunity for that.
Glaser said there were no immediate plans to change the name.
Mercury Payment Systems Inc., a Durango company specializing in payment processing services, built the massive complex for $ 19,800,000 in 2014, according to Architecture Review.
Mercury Payment Systems Inc. has changed ownership on several occasions and was purchased by Fidelity National Information Services (FIS) in 2019.
In November 2020, FIS Worldpay announced that it would be shutting down Mercury Village for good, shifting its 250 Durango employees to remote work.
The move left the building vacant for about a year.
FIS Worldpay executives looking to unload the building and build community assets found a willing partner in Coleman.
“It’s a commitment to Durango and the desire to see (Mercury Village) used for the benefit of Durango,” Glaser said.
“It’s an important resource. This represents the progress of Durango and its leadership, ”she said.
Local business groups supported the purchase and saw property revitalization as a way to boost the local economy.
“It’s a catalyst for getting things going in the southern part of Durango,” said Jack Llewellyn, executive director of the Durango Chamber of Commerce. “The building that remained vacant for as long as it did has certainly had an impact.”
“The fact that James, who knows our community, is buying the property will be a huge plus,” said Llewellyn.
Now that the sale is final, Coleman and his team plan to act quickly, Glaser said.
However, it will take time to bring the building back to life.
“There is still a lot of work to be done,” said Reynolds. “But it has been underused or unused for many years and it’s exciting to see something happen.”
The hope is that a renewed Mercury Village can be a pillar of the community of Durango.
“There has been a lot of pride associated with this building, and it’s something that we want to continue, but this space ends up being used,” said Glaser. “We hope this will continue to be an inspiration to everyone.”