Vail’s Crossroads sells for $13.5 million |

Vail’s Crossroads sells for $13.5 million

Staff Reports

The landmark Crossroads shopping complex at the entrance to Vail Village sold to a local investor Monday, Jan. 12 for $13.5 million.Home to such Vail institutions as Garton’s (now 8150), the Hubcap brewery (now Bogart’s), Village Market (now Clark’s Market) and the Vail Daily (now offices), Crossroads has historically anchored Vail’s commercial core on East Meadow Creek Drive just north of the International Bridge.It’s also home to the Crossroad Cinema complex as well as numerous condominiums, which reportedly made redevelopment of the aging property problematic for previous owner Oscar Tang.New owner Peter Knobel, who describes himself as a Vail-based investor, says he has long-term plans to redevelop the property but has had only preliminary discussions with the condo owners.”They’re willing to discuss future plans,” Knobel says. His deal was only for the 70,000 square feet of commercial space, comprised of approximately 40 stores and offices. “We’re going to speak to the local community and see what they’re interested in doing.”Tang had drawn up some preliminary plans with a local architect that reportedly included an outdoor ice rink where the property’s main outdoor parking lot is.”(Tang) did show us some things, but he never submitted an actual application,” says Vail community development director Russell Forest, confirming that the condo owners may have been the sticking point on that plan.”That’s what I have heard,” Forest says. “I can’t tell you that firsthand because we weren’t involved in those discussions.”A critical component in the ongoing billion-dollar redevelopment of Lionshead and Vail Village, Crossroads has had numerous vacancies in recent years. Spaces are leasing for between $21 and $33 a square foot, but will now include a demolition clause that would allow the Knobel to terminate leases with 30 days of notice after a certain date.Forest says the town is very interested in seeing a creative and workable redevelopment of the centrally located complex.”It’s something that we haven’t necessarily anticipated would be redeveloped, although we’ve been watching the conversation carefully,” Forest says. “It is in a very critical location in Vail Village “– David O. WilliamsState skier visits drop 9 percentColorado skier days dropped more than 9 percent in the early going of the 2003-04 season despite record holiday visits at some resorts.There were 2,671,532 total skier visits between Oct. 28 and Dec. 31, Colorado Ski Country USA president and CEO Rob Perlman said in a release, down 9.2 percent from record numbers last season.”Although we have not quite achieved the early season numbers of last year, which was a record for visits as well as snowfall, several trends make us optimistic about the remainder of the season,” Perlman said. “Colorado is coming off one of the strongest holiday seasons on record and is still reaping the benefits of recent storms that dropped over 14 feet of snowfall, providing us with the best snow conditions of the season, and energizing in-state and out-of-state skiers and riders alike.”Two bright spots are that we’re ahead of our five-year average of early season skier visits and we’ve seen a boost in destination visitation during the first period.”Vail Resorts will not report its early season numbers until its next quarterly financial statement.Ryan, Trista to receive manhole coverOn Saturday, Jan. 17, Vail firefighter Ryan Sutter and his new bride, Trista Rehn, will be presented with an official Vail manhole cover by Mayor Rod Slifer as a wedding gift from the Town of Vail. The ceremony will take place at 11 a.m. at the Main Vail Fire station at 42 W. Meadow Drive, and the public is welcome to attend.Vail’s manhole covers are not your ordinary municipal manhole covers. Akin to “keys to the city,” Vail has only presented two of its prized signature manhole covers: the first was to former President Gerald Ford during the 2002 holiday tree lighting ceremony. The second manhole cover presented by the Town of Vail was to the New York Philharmonic while the orchestra was in residence in Vail last summer.Rehn and Sutter gained national celebrity on the hit ABC TV show, “The Bachelorette,” during which Rehn chose Sutter as her future husband. The couple was married in December at Vail Resorts’ Lodge at Rancho Mirage in California.Minturn town manager resignsMinturn Town Manager Alan Lanning resigned Wednesday, Jan. 14, accepting the town manager position in Brookings, S.D.Lanning, who served in the manager position since 1998, oversaw the building of the new Town Center, fire station and public works buildings.”I’d like to thank the town council for the opportunity to serve the citizens of Minturn,” Lanning said in a release. “I believe Minturn has come a long way relative to our position in May of 1998.”Anyone interested in the manager position should contact the town at (970) 827-5645 of by e-mailing–Vail Trail staff reports

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