The exterior of the former Outside magazine offices at 400 Market St. in the Railyard, which will become a new boutique hotel. 

The longtime former headquarters of Outside magazine at the north edge of the Railyard will become a boutique hotel.

Outside’s editorial operations quietly slipped out of town in the closing months of last year to consolidate with the Outside Inc. corporate headquarters in Boulder, Colo.

Timothy C. Thompson and Dave C. Sparks, partners at State Properties of New Mexico LLC, in September heard about the imminent departure of Outside. Before the property was even listed, they put in an offer and, at the start of the year, closed on the purchase of Outside Plaza, a three-level, 25,000-square-foot structure nearly hidden with cottonwoods and aspens.

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