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Vail Buys Gas Station

The company sees the land as part of a larger redevelopment.
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Vail Resorts

(MTN) - Get Vail Resorts, Inc. Report

bought a former Amoco service station in Vail, Colo., for $3.3 million.

The one-acre parcel is located on the corner of Forest and South Frontage roads. The site has been closed as a service station so work can begin in conjunction with Vail Resort's redevelopment efforts in what is commonly known as the LionsHead area of Vail.

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"While a purchase of a gas station is not by itself an earth-shattering event, the fact that it facilitates potentially lucrative development is a very positive step forward," said CEO Adam Aron.