Colorado Real Estate Journal -

Boulder food company expands tenfold with acquisition in CTC

by Jill Jamieson-Nichols

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A Boulder food company is growing tenfold with the acquisition of a building in the Colorado Tech Center.

Hope Foods Inc., the maker of Hope Hummus, bought a 58,901-square-foot building at 1850 Dogwood St. in Louisville that it will transform into a food production facility. The company paid $2.87 million cash for the property or, to be precise, $2,874,001, which was $1 over the listed price, according to Cassidy Turley Colorado broker Brandon Ray. The property is valued at $3.5 million.

Ray represented Hope Foods with Cassidy Turley brokers Chris Ball and Aaron Valdez.

Hope Foods made a big investment in a pasteurization machine and plans to expand its product lines and also do business for other local organic food companies, said Ray.

“Overall the loading, the clear height, the office in the front and the condition of the building worked very well for them,” said Ray.

Hope Foods, which currently occupies about 5,000 sf in Boulder, purchased the property from the Federal Deposit Insurance Corp. through a Boulder County Public Trustee foreclosure. Jonas Brothers Taxidermy is in the process of vacating the facility.

Other News

CBRE has been selected to market the 432-acre Phillips 66 property at the northeast corner of U.S. Highway 36 and the Northwest Parkway in Louisville.

“A 432-acre development site within the epicenter of the I-36/ Boulder employment corridor is truly unique and will be highly sought after. The existing infrastructure that surrounds the site provides unparalleled visibility and access to the property,” said CBRE’s Martin Roth.

Roth and Eric Roth, first vice presidents in the Denver Land Services Group, along with Frank Kelley, a senior vice president specializing in the northwest Denver office and industrial submarkets, and Sanford Criner, executive vice president of Global Corporate Services, comprise the listing team.

Formerly home to Storage Technology Corp. and then Sun Microsystems, the campus sold to ConocoPhillips for $58.5 million in 2008.

ConocoPhillips planned a global research and training facility on the property, but plans were abandoned after ConocoPhillips spun off Phillips 66 and the property became a Phillips 66 asset.

W.W. Reynolds Cos. brokers Chad Henry and Nate Litsey handled a number of recent leases and an expansion at Reynolds properties in Boulder:

• Cochlear Boulder LLC, which makes hearing implants and hearing aids, leased 14,537 sf of office/ research-and-development space at 5445 Airport Blvd.

• Minute Key signed a lease for 8,267 sf of office space at 4760 Walnut St., No. 105. Andrew Freeman of Freeman Myre represented the tenant, a self-service key duplication business.

• Power Tagging, an energy technology company, leased 5,261 sf at 5425 Airport Blvd., No. 100.

• Navigant Consulting, a tenant at 1375 Walnut, No. 111, expanded by 4,420 sf to 15,584 sf.

• Kelmar Associates signed a 3,994-sf lease for office space at 3100 Arapahoe Ave., No. 500. Eric Rutherford of Wright Kingdom Real Estate represented the tenant.

• Jaipur Indian Restaurant signed a lease for 3,119 sf of retail space at 1800 Broadway, No. 160.

• W. Holding Company LLC leased 2,165 sf at 1800 Broadway, No. 105. A financial company will occupy the space.

• Boulder Map Gallery leased 1,849 sf for a retail shop at 607F S.

Broadway.

• Holzman Enterprises, doing business as Great Clips, signed a lease for 1,745 sf of retail space at 607E S. Broadway. Chris Cook of SullivanHayes Brokerage represented the tenant.

• Schappell Jewelers Inc. leased 1,652 sf of retail space at 3163 Arapahoe Ave., No. 500.

• Goodwill Industries leased 1,500 sf at 3043 Walnut. Rich Otterstetter of Crosbie Real Estate Group represented Goodwill.