Colorado Real Estate Journal - October 21, 2015
A Boulder-based company covered its growth needs with the $2.36 million acquisition of a 13,762-square-foot industrial building at 3155 Sterling Circle. Wallaroo Hat Co. bought the building for $171.63 per sf through an entity called WHC Holdings LLC. Harrison Realty Partners was the seller. “We have been on a strong growth trajectory for several years, and as such we needed more space,” Stephanie Carter, Wallaroo co-founder, said in a release. “Having rented since our founding in 1999, we were finally ready for a permanent home. We strongly identify with our Boulder roots and felt that it was important for us to stay within the city. When this particular property presented itself with its ideal square footage, warehouse space and tall ceilings, we just couldn’t pass it up.” Jason Kruse of The Colorado Group represented the seller. Ashley Overton and Mike Hastings of Flatiron Commercial Real Estate Consultants represented the buyer. “Inventory is very tight right now, and we received a lot of interest as soon as the property was put on the market for sale. Industrial buildings in particular are hard to find and the construction costs will make it more feasible for the buyer to purchase rather than build,” Kruse said. “Both the buyer and seller were very happy with the transaction.” The building previously housed Preferred Paper Products, which moved to Longmont. It was built in 1999. Wallaroo Hat Co. will relocate to the building from 1888 S. Flatiron Court, Suite E, in Boulder, by the end of the year. Wallaroo was founded to offer fashionable, Aussie-inspired hats with UPF sun protection. Its products are sold by more than 2,000 retailers, in catalogs and online.