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OGDEN, Utah (AP) -- Real estate agents have been getting more inquiries about vacant retail and office space on the east side of Washington Boulevard since an $18.5 million high-adventure recreation center was approved at the former site of the downtown Ogden Mall.
However, none have reported new leases or sales, and city officials say it will take years to generate the demand necessary to return that stretch of Washington Boulevard to its former self.
The two-block stretch of commercial buildings between 22nd and 24th streets -- once part of a bustling retail district -- have been emptying since the Ogden Mall closed in 2001.
Only a handful of ground-floor tenants remain in the buildings.
But those who are marketing the space say there has been a resurgence of interest since the recreation center, the linchpin of the proposed redevelopment of the mall site, was approved Nov. 22.
Sean-Paul Thornton, a real estate broker for Coldwell Banker Commercial NRT, is marketing the vacant 13,700-square-foot building at 2236 Washington Blvd. Thornton said that in the last month or so, the number of inquiries about the building has gone from one every three weeks to four a week.
Gage Froerer, owner of Gage Froerer and Associates, is marketing the 16,000-square-foot C.W. Cross building at 2246 Washington Blvd.
He believes real estate prices downtown are as low as they will get.
"I think we're bottomed out, and it's just a matter of how much time it's going to take to get some value into these properties," Froerer said. "No firm offers yet, but I think it's safe to say the activity has increased, which is a good sign."
Joe Florence, branch manager of the Northern Utah office of Commerce CRG Realtors, said the number of inquiries concerning the 14,700 square feet of space he is marketing at 2222 Washington Blvd. has gone from two a year to two a week.
One issue for owners of the buildings east of Washington Boulevard is the scarcity of parking, Florence said. He said some are looking into the possibility of purchasing older homes along Adams Avenue to make way for parking.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
