ARVC Backs Out of Office Purchase
The board of directors of the National Association of RV Parks & Campgrounds (ARVC) has voted unanimously not to pursue the purchase of an office building in Castle Rock, Colo., because of potential legal and financial liabilities that surfaced during the extensive due diligence process, according to a news release.
ARVC had previously announced plans to purchase the 2nd floor of the building in June. But after hiring a Denver-based real estate attorney to review the proposed transaction, ARVC learned of several unresolved financial issues and condo association documents, which made it unwise to proceed with the transaction, said Linda Profaizer, ARVC’s president and CEO.
ARVC Chairman David L. Berg discussed the problems with the transaction and ARVC’s decision to find a new office location in the Denver area during the association’s annual breakfast meeting Thursday (Dec. 2) at the InSites Convention & Expo in Las Vegas.
Berg said ARVC President-Elect Paul Bambei will lead the association’s efforts to find a new headquarters building, though he also noted that any future purchasing decisions would be decided by campground and RV park owners who sit on ARVC’s Executive Committee and board of directors.
Berg said the Denver area remains an area of focus because all of ARVC’s staff lives in the area and owns homes there, including Bambei, who takes over as the association’s president Jan. 1.
ARVC’s board of directors voted 18-2 earlier this year to explore new office locations in the greater Denver area after determining that the Larkspur building he association has been renting from Jellystone Park Camp-Resort owner Ian Steyn was not the best option for the association.
Berg said ARVC’s timing in purchasing a new building now is also worthwhile, given that we’re at the bottom of the real estate market and that commercial real estate prices are the lowest they’ve been in many years.
ARVC’s board sold its previous headquarters building in Falls Church, Va., after the city announced in 2003 that its redevelopment plans would include the eventual razing of the ARVC building.
Rather than wait for the eventual loss of the building, the ARVC board began searching for other potential locations for the association’s headquarters.
Former ARVC Chairman Jason Sheaffer formed a nine-member task force in 2005 to establish criteria for the move and to research various headquarters options, including staying in Virginia.
The task force, whose members represented the diversity of America’s campground industry, ultimately determined that Denver was the best location, citing the city’s prominent rankings for quality of life and low cost of living, ample labor supply, as well as its proximity to major highways and airports.