Aspen retail scene heats up for the summer | AspenTimes.com
YOUR AD HERE »

Aspen retail scene heats up for the summer

‘Offseason shuffle’ sees new downtown Aspen shops and a few relocations, with little vacancy

People walk by the now officially closed Tatanka on restaurant row in downtown Aspen on Friday, April 30, 2021. (Kelsey Brunner/The Aspen Times)

It appears that the effects of the pandemic have only made Aspen’s commercial real estate scene even more desirable than it has been in recent years.

Downtown Aspen has one retail space available for summer occupancy, according to Angi Wang, a broker at Setterfield & Bright.

She and fellow broker Karen Setterfield said they haven’t seen this kind of demand ever.



“It’s stronger than it’s ever been, and I’ve been doing this for 30 years,” Setterfield said. “Everyone wants Aspen. … We are out of spaces, and we have unlimited demand for retail spaces.”

They said they have been fielding several phone calls every week from prospective retailers wanting to set up shop in Aspen.




“Offers are coming in all different directions,” Setterfield said. “Spaces are getting multiple offers.”

The same goes for people interested in buying existing restaurant businesses.

There have been multiple offers lobbed at some longtime establishments but the only one that has actually transferred ownership is Pinons.

Owner Rob Mobilian confirmed last week that after operating the restaurant for 33 years in Aspen, he has sold the business to a restaurateur who owns Casa D’Angelo in Fort Lauderdale and other eateries in South Florida. He also owns a second home here.

Pinons will be transformed and reopened this June, Mobilian said, adding he met with the new owner at his restaurant in Fort Lauderdale last fall to discuss the deal.

“It has been a long a run,” Mobilian said about his tenure in Aspen’s restaurant scene.

There have been rumors and reports that other restaurants in Aspen have sold, but they haven’t, according to current owners as well as commercial real estate brokers.

The sale of Tatanka Western Bistro is pending.

The owner of the business didn’t return a phone message seeking comment.

Lex Tarumianz, a commercial broker representing landlord Andy Hecht, who owns five buildings in the downtown core, said he has put one deal together involving an existing restaurant, but he declined to identify who it is.

There’s a lot of interest in restaurant spaces as more wealthy residents permanently move here and want to invest in town.

Just as the surge in home buying happened locally last year as people fled big cities during the pandemic, the commercial market is following suit.

“There’s no doubt the commercial real estate market is trailing the residential market,” Tarumianz said. “People are paying for big leases.”

Investors are interested in existing restaurant space because the infrastructure is already in place, and it’s expensive to convert retail stores.

“Every single week I get two phone calls about restaurants,” Wang said, adding many prospective buyers are going directly to existing owners with offers. “With no vacancies and no spaces, you can sell (turnkey operations.)”

One of those is the former Maru Japanese Restaurant in the Golden Horn Building on the Mill Street Mall. Its adjoining retail space at 400 E. Cooper Ave. that was recently occupied by Basalt Bike & Ski is the only available storefront in the downtown core for the summer.

Wang said a deal is being inked with a new restaurant operator that will be taking the retail space and the Maru location in the fall. There will be a complete remodel done before it reopens next summer.

New York-based Catch Steak restaurant will open in the former Scarlett’s space on the second floor at 204 S. Galena St., plus a lower level nightclub space.

New retailers this summer include Overland Sheepskin Co. at 426 E. Hyman Ave.; an unknown luxury international retailer going into the former Theory space at 204. S. Galena; a new bike and tune shop at 112 S. Mill St.; Tecovas, a western outfitter, at 416 E. Cooper Ave.; and a new second store for MAX & Nili at 461 E. Hopkins Ave.

Relocations include Audemars Piguet watches going to 535 E. Hyman Ave.; Monkey’s of Aspen at 402 S. Hunter St.; Brunello Cucinelli is remodeling at 508 E. Cooper Ave. and temporarily located at 521 E. Hyman Ave.; iPro Center at 600 E. Main St.; and Full Circle Salon moved to 117 S. Spring St.

Retailer Res Ispa is expanding its space at 507 E. Hyman Ave., and BRIKA “The Art of The Cozy” extended to stay at 411 E. Hyman Ave.

Aspen Labs Covid Testing at 620 E. Hyman Ave. extended its lease through the summer.

A few art galleries are coming to Aspen this summer, and some are moving locations as part of what’s known as the “offseason shuffle.”

Almine Rech Gallery will move into the Muse building next to the Aspen Art Museum on Hyman Avenue, as will the Malin Gallery.

D.J. Watkins and his Gonzo Gallery occupied the space, but he will be moving to Cooper Avenue where a former cosmetic store was located.

White Cube Gallery is new to the scene and will be located at 228 S. Mill St. The space already is leased again for fall, according to Wang, who brokered most of deals downtown for the summer.

National retailer ARHAUS, which designs and sells home furnishings, this fall will move into the space currently held by Compass real estate at 625 E. Hyman Ave.

Setterfield said the interest from retailers and art galleries to be in Aspen is unprecedented, and is a result of Aspen’s remoteness from big cities, the demand seen in the residential market and the mix of local and national shops.

“2021 is shaping up to be Aspen’s tightest retail leasing market ever, and we are experiencing unlimited demand for prime retail spaces,” she said.

csackariason@aspentimes.com

Aspen restaurants offseason schedules:

520 Grill

(970) 925-9788

7908 Aspen

Open Wednesday-Saturday

970-516-7908

Acquolina

Closed April 18-May 25

970-925-8222

Ajax Tavern

Closed April 18 through May 20

970-920-6334

Aspen Pie Shop

Dine-in, delivery and takeout

970-925-3230

Aspen Public House

Closed April 26-May 15

970-710-7022

Aspen Tap

970-920-2739

Bangkok Happy Bowl

Dine-in, delivery and takeout

970-925-2527

Betula

Closed May 9-27

970-429-8683

Big Wrap

970-544-1700

Brunelleschi’s Dome Pizza

970-544-4644

Butcher’s Block

Will be closed on Mother’s Day

970-925-7554

Casa Tua

Closed. April 18 through May 26

970-920-7277

Campo de Fiori

Closed April 18-May 28

970-920-7717

Clark’s Oyster Bar

Closed May 17-24

970-710-2546

CP Burger

970-925-3056

French Alpine Bistro – Crêperie du Village

Closed April 15 through first week of June

970-925-1566

Element 47 – The Little Nell

Closed April 18-May 20

970-920-6330

Grateful Deli

Closed April 24-May 3

970-925-6647

Hickory House

Closed Monday and Tuesdays

970-925-2313

Home Team BBQ

970-236-2040

HOOCH Craft Cocktail Bar

Closed April 26 through May 20

970-710-7275

HOPS Culture

Closed April 19 through May 27

970-925-4677

Ink Coffee

Shorter hours

970-544-0588

J-Bar

Closed April 18-May 26

970-429-7674

Jimmy’s Bar and Restaurant

Closed April 28 through May 26

970-925-6020

Jing

970-920-9988

Jour De Fete

970-925-5055

Joonas

970-922-8047

JUS Aspen

970-710-7063

Kenichi

Open Tuesdays through Sundays.

970-920-2212

L’Hostaria

Open Tuesdays through Saturdays

970-925-9022

Limelight

Closed for remodel through Thanksgiving

970-925-3025

Little Ollie’s

Shorter hours

970-544-9888

The Living Room/ Prospect- Hotel Jerome

Closed April 18 through May 26

970-920-1000

Local Coffee House

970-429-4026

Louis’ Swiss Pastry

970-925-8592

Matsuhisa

970-544-6628

Mawa’s Kitchen

Closed April 26-May 2

970-710-7096

Meat and Cheese

970-710-7120

Mezzaluna

Closed Sundays

970925-5882

Mi Chola

970-710-7076

The Monarch Steak House

Closed April 18 through May 28

970-925-2838

New York Pizza

970-920-3088

Paradise Bakery

970-925-7585

Plato’s — Aspen Meadows

970-544-7814

Poppycocks Cafe

970.925.1245

Pyramid Bistro

Closed April 16 through first week of June

970-925-5338

Red Mountain Grill

970-544-6336

Shadow Mountain Lounge

970-920-0033

Silver City

970-429-8252

So Cafe @ Aspen Art Museum

Lunch Tuesdays through Saturdays

Cafe only Sundays and Mondays

970-925-8050

Spring Cafe

970-429-8406

Starbucks Aspen

Shorter hours

970-429-4056

Steak House No. 316

970-920-1893

Su Casa

Closed Mondays beginning April 26

970-920-1488

Tatanka

Closed permanently

Tiki Mana Island Grill

970-710-2379

Victoria’s Espresso & Wine Bar

970-920-3001

White House Tavern

970-925-1007

The Wild Fig

Closed April 24-May 28

970-925-5160

Woody Creek Tavern

Closed April 29 through June

970-923-4585

Zane’s Tavern

970-544-9263

Summer reopenings

Bosq

Reopens May 28

970-710-7299

Cache Cache

Reopens June 4

970-925-3835

Ellina

Reopens early June

970-925-2976

Nakazawa

Reopens May 26

970-925-1797

Pine Creek Cookhouse

Reopens June

970-925-1044

Source: Aspen Chamber Resort Association

 


Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.