Chaffin Light boosts Basalt presence
September 5, 2007
The rapidly expanding Chaffin Light Real Estate company is building its presence in Basalt by consolidating its support services under one roof.The company is remodeling a 4,100-square-foot office building it purchased in Basalt. Its accounting, marketing, human resources and technology departments will be relocated there, according to managing partner Mark Overstreet. Currently those departments are scattered throughout the upper valley, he said.The Snowmass Corp., another firm affiliated with Jim Chaffin and Jim Light, purchased the commercial building from Frieda Wallison’s Caddis Fly Partners for $2,050,000 in October 2006, according to a warranty deed recorded in Eagle County.The two-story building is detached from Wallison’s two streetfront buildings that mix retail shops and residences in the Riverwalk project along Midland Avenue. Wallison unsuccessfully tried renting out the unnamed building for about two years. The building is in an ideal setting along the banks of the Fryingpan River.Overstreet said it was a perfect match for Chaffin Light Real Estate. The building is the only one that would accommodate the firm’s needs in Basalt. The firm preferred not relocating support services as far downvalley as Carbondale or Glenwood Springs, he said.The structure will accommodate more offices than the company currently needs for its support services, but that provides space to grow. The excess space will be rented until it is needed. The renovated building will also include a second-floor conference room.Chaffin Light Real Estate is spending about $800,000 on renovations and another $300,000 on high-end office furnishings. The partners in the firm believe a healthy work environment encourages satisfaction and productivity, Overstreet said.The remodeling will open the second story up to the Fryingpan River, taking full advantage of the ideal location, and add windows to all offices, Overstreet said.The office building isn’t visible from Midland Avenue, but that’s not a requirement for the support services. Chaffin Light will maintain its real estate office on Midland Avenue as well.Chaffin Light Real Estate used to do business in Aspen, Snowmass Village and Basalt under three different names until it made a strategic branding move earlier this year. The Basalt office was Roaring Fork Land Co., the Aspen office was Carolann Jacobson Realty and its Snowmass Village firm operated as Snowmass Real Estate.The move was necessary to match the name recognition and marketing power of some of the larger firms in the upper valley, Overstreet said. There are between 50 and 60 brokers and support staff in the three offices, he said.The new Basalt office is expected to open by the end of November. Sixteen workers will be employed there, Overstreet said.Next on the firm’s agenda is to relocate its Aspen office into a permanent location. It wants all its offices in space it owns rather than rents. Chaffin Light Real Estate purchased land in Aspen where it plans to construct a new building near the downtown core. Cottle Car Yaw Architects are designing the Aspen office and designed the Basalt modeling. Scott Condon’s e-mail address is firstname.lastname@example.org.