Commercial and retail brokers in Aspen confirmed that landlords of retail spaces are able to now command higher rent prices, after the market contracted during the height of the recession.“Rents are back to pre-recession rates,” one said, adding that in highly visible retail spaces landlords are asking, and getting, over $150 a square foot. Less visible spots are going for between $65 and $80. The recession also resulted in as much as a 9 percent vacancy rate in the downtown core as retail stores began closing. Now, the broker estimates the vacancy rate to be between 2 and 4 percent with about a half-dozen empty storefronts.
By Carolyn Sackariason, Sept. 29, 12 ADN
Downtown Aspen Mall is the retail epicenter of town