While the numbers aren’t always great, things might be looking up in some areas for commercial real estate in Summit County, according to local professionals.
Jack Wolfe of Wolfe & Company Commercial Real Estate in Breckenridge sees a few good signs that things are turning around, despite some increased vacancy rates in Breckenridge for July. Three large development parcels sold or went under contract last quarter in the resort town, which indicates to him the bottom of the current real estate recession has been reached.
Year-to-date sales for restaurants and bars and retail stores in Breckenridge have increased compared with last year — 15 percent for restaurants and bars, and 3.3 percent for retail — something that indicates commercial real estate could follow. Commercial space is a trailing indicator, and reflective of the overall market, Wolfe said.
“Restaurants are just off the chart right now,” Wolfe said. “I’ve got several restaurants who are looking for space in Breckenridge, and I can’t find them.” Click here to read the entire article.
Stewart Seeligson’s business education and diverse real estate experience set him apart from other real estate brokers in the Telluride region.