Retail leases led the way with prime spots filled…one commercial broker said, ":leasing rates are probably 40 percent lower than they were three years ago. “People often ask if the rents are coming down. My response is, they’ve already come down and they’re not likely to come down any more.”
ASPEN REAL ESTATE — Frank Sinatra’s “It Was a Very Good Year” may as well be the theme song for Aspen’s commercial real estate professionals as they look back on 2010.After toughing things out amid the national recession, tourism slowdown and associated real estate crunch for much of 2008 and 2009, last year marked a bit of a comeback for those whose goal is to fill empty spaces in downtown’s commercial core.And the last few months of the year were especially positive, with retailers clamoring for the best locations and short- and long-term leases just prior to the winter tourism season, local industry sources say.
By Andre Salvail, JAN 10, 2011 Aspen Times
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