Chelsea Self/Glenwood Springs Post Independent
When American Furniture Warehouse leaves Glenwood Springs in early June, the building’s likely new owner – Pegwood LLC – has five potential tenant user categories in mind.
According to a recent Pegasus Realty Corp. press release, those categories include: sporting goods, soft goods, clothing, furniture and grocery.
Pegasus Realty Corp. out of Centennial, Colorado is an affiliate of Pegwood LLC.
In April, American Furniture Warehouse CEO Jake Jabs confirmed that, after 25 years in business, the Glenwood Springs location would shut down and that the company would sell the 42,270 square foot property located in the Roaring Fork Marketplace.
Although still under contract to purchase the space, according to Pegasus Realty Corp., Pegwood LLC should close on the property in early June. The AFW store space is part of the larger Roaring Fork Marketplace commercial center.
Currently in the process of securing “a tenant (or tenants),” for the building following AFW’s departure, Pegasus Realty Corp. stated that it is having ongoing discussions with several potential retailers that are interested in possibly filling the space.
“We’re talking to retailers, mostly national,” Pegasus Realty Corp. Representative Matt Sanger said. “We’re hoping to get something in there that provides something not just for Glenwood Springs, but also the Roaring Fork Valley and even the region.”
Sanger said that dividing the space to accommodate more than one tenant was still an option.
“Obviously, that’ll change the rental rate for any prospective tenant,” Sanger explained, should the building need renovations to house more than one tenant.
“The systems that we have in place, we’re pretty confident that we could do multi-tenanting. We’re open to that; we’re not closing doors,” he said.
Sanger said that multiple 10,000- to 15,000-square-feet store spaces have also been discussed.
When asked about “entertainment” being a potential user category for the space, Sanger did not rule it out but said current covenants, conditions and restrictions (CC&Rs) in place presented challenges for that.
“It’s definitely something we’re looking at,” Sanger explained of entertainment being a possible user category. “At the moment, the CC&Rs for the shopping center as a whole I don’t think fully allow for a movie theater.”
Another affiliate of Pegasus Realty Corp. has owned the adjacent property since the early 1990s. That particular section of the Roaring Fork Marketplace also houses Office Depot and Denver Mattress.
“We want to get someone in there quickly,” Sanger said.