2016 Commercial Market Report

At the close of 2016, occupancy rates continued in a positive trend throughout the valley. We expect the trend of tight supply and stable rental rates in most sectors of the market to continue into 2017. However, we believe rental rates are nearing a top and wouldn’t expect them to push much beyond their current levels.

To read the entire report, click here.

Vail Daily Article – Finding commercial space in Vail is rare

There are a lot of differences between commercial and residential real estate. But in the Vail Valley, there isn’t much available in either category.

According to the most recent data from NAI Mountain Commercial, a firm that specializes in commercial real estate, Vail has the least amount of available space right now. In fact, the commercial space in Vail Village, Lionshead Village and West Vail is 98.5 percent occupied at the moment.

To read the entire article, click here.

2016 Q3 Commercial Market Report

Through the third quarter of 2016, there was a decrease in vacancy rates and increase in net absorption for Eagle County. The majority of the net absorption was a result of the new Sun & Ski Sports lease that took over the vacant Sports Authority space in Avon’s Chapel Square, totaling 33,000 SF.

To read the entire report, click here.

Vail Daily Article: Valley’s Biggest Issue – Housing

The local economy is humming along at the moment, but there are some blotches in the picture. That was the overall opinion of several local experts at Wednesday’s Vail Valley Business Forum, a joint production of the Vail Symposium and the Vail Valley Partnership, the valleywide chamber of commerce. That forum provided a good look at the county’s economic picture. First, the good news: While the town of Vail’s sales tax collections recovered more quickly from the nationwide economic slump that began in 2008, the county’s sales tax revenues recovered more slowly. In fact, Eagle County Manager Brent McFall said 2015 was the first year that sales tax revenues matched 2008’s figures.

To read the entire article, click here.

Vail Daily Article: Eagle Ranch starts to pop with biz openings

Two Eagle Ranch businesses benefited from good timing and willing landlords earlier this summer and the result is larger digs for a popular pub and a new coffehouse for locals and visitors.

No sooner had 7 Hermits Brewing moved out of its location at 717 Sylvan Lake Road than the new Color Coffee Roasters pounced on the spot. Now both operations are reporting brisk business in spaces that can accommodate their efforts.

Click here to read the entire Vail Daily Article 

Vail Daily Article: Commercial Space Market Stable

In an article included in the Vail Daily, NAI Mountain Commercial’s Vice President of Brokerage, Erich Schmidt, gave his opinion on the current commercial real estate market in the Vail Valley.

Commercial real estate can be a lot different than the residential real estate business, but there’s one constant: location, location, location.

Click here to read the entire Vail Daily Article 

Business with an Altitude

Steve Daniels, host of Business with an Altitude on THE MILE, interviews Mike Pearson, president at NAI Mountain Commercial on the state of the commercial real estate market in the valley. The interview aired Monday, August 8, 2016 during the 12pm hour. THE MILE is the Vail Valley’s non-stop classic rock station.

Vail Daily Article: Housing – Doing Nothing Not an Option

VAIL — This town’s chronic housing shortage is as bad now as it ever has been. But what will the town, its residents and its businesses do about it? Alan Nazzaro, the town’s housing director, has only been on the job about a year, but he’s spent most of the past several months assessing the town’s shortage, and working on a plan to help alleviate it. Nazzaro
is now putting the finishing touches on a plan that could actually produce some new housing in and around the town in the next three to five years.

To read the entire article, click here.

2016 Eagle County Housing Update

Eagle County completed a Housing Needs Assessment in 2007, and a Nexus/Proportionality study for Commercial Development in 2008. The results of those two analyses were used as a basis for its 2009 Housing Guidelines. The 2012 Housing Needs Assessment was used to update the Housing Guidelines in 2014. Economic conditions in the United States, Colorado, and Eagle County have changed drastically since 2007-2008. Eagle County has gone from full employment (unemployment under 3%) to a rate of almost 9% unemployment in 2010, back to 3% in 2015. This see-saw of economic conditions has affected the housing market in Eagle County. Because 2007 was the height of the pre-recession growth period, the 2007 Housing Needs Assessment defined a need for affordable housing at its peak. Calculations in the 2008 Nexus study targeted ownership housing for workforce families earning 140% of Area Median Income (AMI). The 2012 Housing Needs Assessment provided an overview of post-recession needs for affordable housing which included lowering the target market for affordable housing to 100% AMI.

To read the entire report, click here.