Commercial rents rising in Colorado resort country

Commercial space near Colorado's ski resorts is hard to come by.

The Vail Valley, Colo., residential real estate market is a highly analyzed sector, as tourists, second homeowners or year-round residents flock to the area to take advantage of the gorgeous scenery and outdoor activities. However, a recent report from the only broker in the area that specializes in commercial real estate shows that rents are rising in the region.

The company's data shows that retail space in Vail is hard to come by, thereby making it expensive, while spaces farther out are less expensive and easier to come by. Inventory is tightest in Vail's resort villages, Vail Daily reported. "Secondary" spaces are going for more than $35 per square foot in some villages, while prime space in Vail Village is going for nearly $100 per square foot.

Besides retailers and other companies trying to get the business of tourists and wealthy residents, one reason prices are so high is that there simply isn't much space available. NAI Mountain Commercial's report showed that in the western valley, there's less than 140,000 square feet of space available out of the market's total 2.6 million square feet.

NAI Mountain Commercial President Mike Pearson told Vail Daily that the super-tight inventory leads him to predict that when the building currently occupied by Office Depot – which closes soon – will be a hot commodity.

While space in the Vail Valley may be hard to come by, it is a great location for business owners who want to open or expand their own operations. Whether you want to sell Vail mementos or open up a fine-dining restaurant to warm the bellies of the area's skiers, the area can be a lucrative one in which to open a business.

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