Colorado Real Estate Journal -
A pillow company found a place to settle in. The owner of Pacific Pillows bought the industrial property at 1417-1475 S. Acoma St. in Denver for $1.5 million. Pacific Pillows has been a tenant there for the last several months. Pacific Pillows, which started in Inverness in 2005, outgrew its space there and planned to move its headquarters earlier this year into the former Kacey Fine Furniture building on West Sixth Avenue in Lakewood. “A week before closing, a furniture retailer showed up wanting to lease the building, and so they went ahead and bought it and did a 10-year lease with the retail tenant,” said Greg Knott of Unique Properties LLC-TCN Worldwide. “So we had to find another headquarters.” The Acoma property totals 1.65 acres and includes a 50,000- sf warehouse with an additional 18,265 sf of mezzanine space that is serviced by a freight elevator. The building, which was built in 1957, has four dock-high loading doors, fire sprinklers, heavy power and 32 parking spaces. The site has four old houses on it, and the loading wasn’t ideal for a lot of industrial users, “But it worked well for them,” said Tyler Smith of Cassidy Turley Colorado, who represented the seller. “It had a lot of square footage. It was priced where they wanted to be, and they love that area of town,” said Knott, who represented the buyer with Brad Gilpin, also of Unique Properties. The company does business across the state, and the location off Santa Fe Drive and Evans Avenue was convenient. Plus the building had “wide open clear-span space,” which was important. “It was perfect for them,” said Knott. Knott said Pacific Pillows’ owner plans to continue leasing out the houses, which were employee housing for the company that used to operate there. But having the extra property gives Pacific Pillows the option of expanding in the future, he said. The Eric Rilko Trust sold the property, which used to house Woodworkers of Denver. Black and Gold Holdings and Acoma Street Holdings were the buyers. Smith represented the seller with Cassidy Turley Colorado brokers Alec Rhodes and Aaron Valdez.