Archive for March, 2014
Source: Cedar Valley Business Monthly By: Jim Offner CEDAR FALLS | The former Smitty's Tire & Appliance building in Cedar Falls, at 6912 University Ave., has been sold. Cedar Falls-based Financial Architects, headed by Curt Patterson and Todd Thomas, closed on the purchase of the building Friday morning, according to Dustin Whitehead, director of sales and leasing/Midwest, for Cedar Falls-based Lockard Cos., which listed the property. The purchase price was $900,000, Whitehead said. Patterson was out of the office Friday and could not be reached for comment. Thomas did not immediately return a phone call for comment. Smitty's, which had operated on the property for more th an 60 years, closed at the end of 2013. Max Boren, who still operates a Smitty's store in Manchester as a separate business entity, was the seller. Boren recently auctioned off fixtures and other equipment inside the building, Whitehead said. Whitehead said he was not privy to the details of the buyers' plans for the property, but he did say, "I think what they're going to do to that property will enhance that corner."