Veteran retailer Chuck Rozanski stands to reap a hefty profit from the sale of Mile High Comics' Denver headquarters, and he has Colorado's booming legal marijuana economy to thank for it.
He announced this week in an email to customer that he's putting the 22,000-square-foot warehouse at 2151 W. 56th Ave. on the market, where it's listed for about $1.6 million, or nearly triple what he paid three decades ago. Why the high price?
As the Denver Post explains, outdoor cultivation of pot is still illegal in Colorado, which means properly zoned industrial space is at a premium. "By pure happenstance," Rozanski writes, "both of our buildings are legally zoned for commercial pot-growing operations. Buildings with that zoning here in Colorado have exploded in value over the past 48 months, more than doubling in market value. While pot growers still cannot legally open bank accounts, they have become the most active buyers of commercial warehouse buildings in Denver, usually showing up with sacks of cash."
It's almost as if Mile High Comics, whose name doesn't actually refer to its location, is coming full circle. "We didn't call it Mile High Comics because it was based in Denver," Rozanski admitted to the newspaper. "The whole thing was tongue-in-cheek. I was a massive stoner when I was in college. And here we are 40 years later, and it turns out the pot law spins it all around. It's hilarious."
He expects Mile High will have to be out of the warehouse by the end of March, which means about six million comic books must be relocated to the 60,000-square-foot super-store at 4600 Jason St. In hopes of lightening the load, Rozanski is offering deep discounts on trade paperbacks, graphic novels and hardback editions.