Colorado Real Estate Journal - March 18, 2015
A new use is brewing for the former Sealy logistics facility in Colorado Springs. Baseline Beverage Properties LLC, which does business as Rocky Mountain Coors Distributing Co., a Southern Colorado beer distributor, recently paid $5.58 million for the approximately 126,000-square-foot facility on 13 acres at 1525 Newport Road. The buyer had been looking for a long time in the market for build-to-suit opportunities but reconsidered the Newport property after Sealy was sold to TemperPedic and opted not to maintain its logistics operations there. “I suggested that they take a fresh look at the building, in which they could save millions in buying an existing building versus new construction,” said NAI Highland LLC’s Randy Dowis, who handled the transaction. Rocky Mountain Coors will occupy the building in midto late 2016. In the meantime, Leggett and Platt, which acquired TemperPedic, will occupy 87,500 sf there with its recent lease at the building. The buyer also is anticipated to add around 20,000 sf of office space to the building, which features 28-foot ceilings, ESFR sprinklers throughout, 7,000 sf of office space, 15 dockhigh doors and one oversized ground door. It was built in 1999-2000 as a build to suit for Entertainment Publications. Foster Associates LLC was the seller.