New coworking space setting up shop

Matt Telinde owner of the Vault Real Estate Community.

Grand Junction's second coworking space is about to open, and for owner Matthew Telinde, it still doesn't feel real.

It's been a long, multi-year process for Telinde to open Vault, a coworking space geared toward the real estate community, but the building should open in December.

"I still don't believe it will actually open," Telinde joked. "I think we're close. It's exciting."

Telinde is scheduled to get his certificate of occupancy for the building at 2755 North Ave. on Friday, which will allow him to fully furnish the coworking space and allow businesses and individuals to prepare for their moves. A coworking space is an office setting that has workers from different businesses or people on their own working side by side.

Telinde's vision for Vault — which gets its name from the vault door still in place on the ground floor — is to allow real estate professionals a place to grow their business, network and build a portfolio.

The site will house realtors, lenders, insurance agents, property managers, investors and wholesalers. Telinde said he met with the owners of the city's first coworking space downtown at Factory and he wanted to bring a similar idea to his world.

"I really like what the guys at Factory were doing and wanted to do it in real estate," he said.

Telinde is the co-owner and chief executive officer at Real Property Now, working with Scott Schindelar, who also has played a big role in starting up Vault. Joining Telinde at Vault are the Western Colorado Association of Real Estate Investors, Intermountain West Insurance Services, Pine Financial Group, HomeVestors and Major Mortgage. There is still room for more members.

Factory co-founder Brian Watson said he met with Telinde for the better part of a year and said Vault is now the "nicest space in town."

He also lauded the focus on real estate and said it is a great fit for a new coworking space.

"The real estate bend is great," Watson said. "So much of people's success in real estate is who you know and networking. Having people with similar backgrounds in one space is really helpful."

Members will pay a fee of $195 per month if they are associated with a business. Individuals on their own will pay $295 per month and each membership comes with a gym membership to Planet Fitness, access to conference rooms and keyless entry that is accessible with a smart phone.

Full office space is also available with smaller offices going for $500 per month and larger ones yielding $1,000 per month. The smaller office also includes one membership, while the larger office brings in two. Offices come with a free hoverboard.

Telinde said the 10,000-square-foot building cost $2.7 million to purchase and build out.

"I'm just hoping to grow community and build business on North Avenue," he said.

Sheena Blankenagel, who runs the Western Colorado Association of Real Estate Investors, will move her office to Vault soon and will host the organization's holiday party at the site.

Currently, the group has its meetings at the Hampton Inn downtown and Blankenagel said it will be nice to have a place to call home.

"I just thought it was a cool idea," she said of Vault. "Hopefully it's a one-stop shop for everything real estate investors need. It will fill a niche in this town."

While Vault is the second coworking space in Grand Junction, Watson said more are on the way, including one coming soon focused on the construction industry. Others are likely to follow as Watson points to places such as Denver, which has seen approximately 50 coworking spaces open in the past five years.

"Coworking is a new term, but it's an old thing," Watson said. "It's people coming together to help each other and build community."

Recommended for you