Vail Resorts Buys Shopping Center, Office Building

Vail (AP) A Vail Resorts subsidiary has purchased a
shopping center and office building for $10 million dollars, boosting the company's property ownership to six acres in the Lionshead area. The purchase announced Monday includes the Cascade Shopping Center, plus the Vail Professional Building.

The properties sit on a combined 1.8 acres near Vail Resorts' planned Ritz–Carlton residences. Vail Resorts officials say they'll work with the town and its residents to put together a redevelopment plan for the newly–acquired properties. The shopping center is nearly 11,100 feet in size, while the office building is almost 19,700 square feet.

Vail Resorts owns resorts at Vail, Breckenridge, Keystone and Beaver Creek in Colorado, and Heavenly in Lake Tahoe, California.

Copyright 2005 by the Associated Press. All rights reserved.
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