A bright future for the former home of the famous Liquor Mart

Earlier this year, a Downtown Boulder classic, Liquor Mart, announced they were closing their doors for good, unrelated to current circumstances. Many in the area will remember shopping Liquor Mart through their college years or how the store took a chance of so many local, craft breweries. 

The property, which is located at the southeast corner of 15th Street and Canyon Blvd., will bring 150 apartments and a significant amount of ground-floor retail space. 

The Liquor Mart property also happens to be situated in the heart of the 15th Street Design District (15SDD), an area which spans both sides of 15th Street from Canyon to Arapahoe and is home to some of Boulder’s premier interior designers, architects, and graphic/web designers. 

One of our own listings, 1720 14th Street, which is currently for sale or lease, is also situated in the heart of the 15SDD. As the district continues to grow and the redevelopment of Liquor Mart proceeds, this art deco building holds an exciting future for its next owner and tenants. 

The property is within walking distance of the Boulder Farmers Market, the Pearl Street Mall, and the Boulder Creek Bike Path. In case you weren’t sold, here are some other features of this area which make it a valuable real estate investment.

Education

Within a 2 mile radius of Downtown Boulder sits The University of Colorado and Naropa University in addition to a handful of Boulder Valley School District Schools and private schools. With schools right around the corner, it’s not surprising that the shift to living close to downtown is popular amongst families and singles alike.

Access to public transit and bike paths make getting in and out of downtown pain free. Forget the parking woes and leave the car in the garage- everything is walking distance.

World Class Eats

The food scene in Downtown Boulder has always been lively and diverse- and the pandemic hasn’t changed that. In fact, with the addition of “al fresco” dining options, which allow for restaurants and bars to expand into sidewalks, parking lots, and streets for an expanded patio experience, the streets of Boulder have never been more inviting. With plenty of patio options in addition to take-out, you definitely won’t be going hungry here. Why get it for delivery when you can walk around the corner to grab it?

What makes Downtown Boulder so remarkable is its ability to combine the classic staples of the region, like the Dushanbe Teahouse, with newer institutions like Rosetta Hall and the soon to be open Avanti Food & Beverage. The restaurants and bars in the neighborhood attract residents from all over the region, not just Boulder itself.

The Commute-Free Life

Commercial spaces in Downtown Boulder are highly-coveted. The demand for more affordable residential real estate in the neighborhood is largely due to the proximity to offices and businesses that are downtown. While many of us are working from home, there is much evidence to suggest that in-person office culture will remain relevant even as we reemerge from the pandemic. Even large tech companies who have offered the most flexible work-from-home options are holding on to their offices for when it’s safe to return to them.

Pearl East Business Park houses some of Boulder’s most interesting and trendy businesses, including the sports apparel company, KJUS.  We recently had the opportunity to interview the KJUS team members who helped us learn how they are different from other sportswear brands, why they do that they do and understand their expansion plans at Pearl East Business Park

WWR: What is KJUS?
KJUS: KJUS crafts innovative and premium sportswear that strengthens the performance of passionate athletes and is engineered for people with active lifestyles. We focus on high-performing ski and golf wear and also craft a small, technical lifestyle collection. Some of our greatest innovations include fabrics that regulate body temperature, offer freedom of movement and provide exceptional comfort.

Our very being was forged through a combined passion to enable people to reach the absolute top of their game. Olympic ski champion Lasse Kjus founded KJUS in 2000 to fill a gap in technical and functional ski apparel during a time when fashion was the focus. Shortly thereafter, our brand expanded to bring innovation to the golf-wear market.

In Summer 2019 we were acquired by Acushnet Company, owner of high-end golf brands such as Titleist, Footjoy and Scotty Cameron. We recently began transitioning many of our functions from Switzerland to our North American headquarters here in Boulder.

Why did you expand into the Pearl East location?
KJUS: KJUS has been fortunate to experience a period of growth that requires more room for associates and business operations. We’re looking forward to building out a space that better supports our team’s collaborative efforts and provides an enhanced showroom to invite our partners to view our latest technologies and collections.

What about Boulder attracted you to the city?
KJUS: The decision to remain in Boulder was important so that we can stay close to premium ski resorts and quickly access the top golf courses between both the East and West coastlines, enabling us to keep a pulse on our core consumer base. We also love that Boulder is close to other outdoor recreation, ensuring our associates can maintain a positive work/life balance. We’re fortunate to not only enjoy the mountain views from Pearl East but also to walk out the door at the end of the day and enjoy the amenities of the Front Range.

What’s next for KJUS?
KJUS: Our team of engineers are constantly inventing top-secret fabric, insulation and innovations. We’re putting finishing touches on our Spring/Summer 2021 golf-wear line and are preparing to deliver the exciting new Fall 2020 lifestyle and ski collections.

The impact of COVID-19 has been felt by every industry, with lay-offs and work disruption taking place nationwide. Commercial real estate is also experiencing a transition. With more people working from home and shopping online into the foreseeable future, real estate will experience some shifts.

As always, our team at WW Reynolds is carefully watching these changes, making adjustments, and finding new opportunities for our clients.

While much remains unknown, we anticipate some of the following shifts in real estate during and after COVD-19.

Higher demand for industrial space

By 2023, industrial real estate demand is expected to increase by at least 850 million SF, and according to Deloitte, the rise in e-commerce sales is to blame. E-commerce has grown by 14.8% in a 5 year period between 2012-2017 according to the same study. And, with large volumes of space being fairly limited, it’ll only become more difficult to secure a lease on industrial space. This trend can easily be exacerbated by consumers nationwide increasing home deliveries due to COVID. Many businesses can now only operate from afar, and the powerful ability to ship items quickly relies on industrial space capacity.

That said, Boulder does have some large scale flex space coming on the market this year. Check out the fully renovated Sterling campus.

The office of the future

Despite the dramatic increase in remote working and working from home (both due to COVID and changing trends in recent years), there is still value in company offices. We don’t believe the company office is going away, but will serve different functions. Instead of office buildings that serve as hubs in city centers, there may be a rise in smaller, satellite offices. This would be for a few reasons. First, public transit will be operating at a reduced capacity, making commuting not only risky, but inconvenient, and second, smaller satellite offices will make adhering to social distancing easier. For the foreseeable future, offices will most likely be outfitted with physical workspace barriers and signage that encourage 6 ft. social distancing.

Several of our listings are uniquely set up to accommodate safe office working, both now and into the future. The 10,098 SF building at 1720 14th Street in downtown Boulder for sale and for lease offers ten big separate offices, each of which can be subdivided into two offices. Considering how open office space has been in high demand in recent years, 1720 14th Street offers an especially rare opportunity.

Real estate transactions

Boulder County has released guidelines for the Safer-at-Home COVID phase which now make activities related to real estate transactions, like open houses and showings, easier to conduct. However, many across the industry are encouraged to limit viewings where possible and leverage digital materials before a viewing is scheduled. This makes digital and online marketing more important than ever.

Check out virtual tours of our available spaces here.

Overall, it’s important to remember that commercial real estate is going through change. WW Reynolds has been around for many economic downturns and cycles of change over the years and it will be no different this time.

Perhaps now more than ever the world has turned to life sciences to find solutions to some of our biggest challenges. We are pleased to note that Boulder is quickly becoming a primary destination for life sciences, a catch all term that encompasses pharmaceutical research, medical technology, cell therapy, and bioengineering. While markets like Boston and San Francisco have historically been considered biotech hotspots, Boulder is making a name for itself, being primed as the next big market.

Life Sciences and Real Estate

In biotech concentrated markets, lab/office space has seen exponential growth. Commercial lab space in Boston increased by 25% in nearly 5 years. With $66 Billion invested in bioscience from 2014-2017, the sector shows no signs of slowing down, especially with the recent COVID-19 crisis. According to McKinsey, the race to rapidly develop vaccines and treatments has resulted in a scaling up of production and work space.

Innovation and research in life sciences is often dynamic and quickly changing, so large square footage and plenty of flex-space is always in demand, including office space, warehouse space, and laboratory space. The sector is projected to grow mostly at the hands of biotech startups so space needs vary greatly as time goes on. Many of these life sciences companies will buy or lease large properties in anticipation of future growth, even if they’re unsure of how much they’ll need or what they’ll need it for. This flexibility is important to industry professionals as research and findings change frequently.

Why Boulder is the next Life Sciences Innovation Hotspot

Colorado is the third most educated state in the nation due to its high percentage of bachelors and graduate/professional degrees. With institutions like the University of Colorado, NIST, NCAR and NOAH, Boulder already has a rich history of intellectual capital. But when you combine that with its strong startup culture, it makes Boulder an attractive destination for biotech. Last year, an estimated 1,000 biotech related jobs were added to Boulder alone.

Colorado also boasts a favorable tax climate for large corporations as well as a host of startup incubators, think tanks, and local governments that are supportive of STEM-intensive jobs.

And finally, location. Yes, the Rocky Mountains make Boulder a special place, but being located in between the East Coast and West Coast has distribution advantages as well.

Just in time for the Sterling Trio

Set to finish later in 2020, the Sterling Campus consists of three flex / office buildings that are 20,000-40,000 square feet each, with a total of 85,000 square feet available on the campus. The properties are suited well for biotech companies as they offer plenty of space for dynamic growth and multiple uses. The buildings can be designed to accommodate multiple types of buildouts whether that be 100% office space or a combination of office, lab and warehouse space.

SEE THE STERLING BUILDINGS

Many of WW Reynold’s tenants have been affected by the changes to our lifestyle and economy during the COVID-19 outbreak. One of these tenants, Mindfish, has been preparing Colorado’s students for standardized tests like the SAT and ACT for nearly 15 years now. Given that the rest of the 2020 school year looks uncertain, they are hoping to offer resources to not only keep students who have been out of the classroom on track academically, but will be preparing college applicants for the July SAT/ACT sessions.

Founded by Bill Huston and Ryan Krug, who both settled down in the Boulder area after studying at Stanford, the duo have made it their mission to become Colorado’s #1 test prep company. This goal is quickly becoming a reality, rapidly expanding from their original single office in the Cartwright Building into 3 suites that they now call home.

Mindfish had humble beginnings, however. What initially began as an adaptive learning company that set out to build technologies into Facebook evolved into an expertise and large client base for SAT and ACT clients. This ranges from students looking to prepare for the SAT and ACT, to academic assistance, and college essay support. Krug and Huston decided to look inwards and focus on the local test prep market right here in Boulder. It only took 2 years for Mindfish to outgrow their operations from students’ homes, libraries, and bookstores. In 2008, they leased their first office space in the Cartwright Building on the bricks of the Pearl Street Mall. Their continued growth speaks to Mindfish’s dedication to maintaining a learning environment that is helpful to their students, so a space that allows for one-on-one sessions with tutors as well as small group classes is essential.

Searching for that initial Boulder location started with looking for that hybrid space that would provide privacy for both students and administration. The location of the Cartwright building couldn’t have been more ideal: Boulder High students can walk right over from school, and those who come from around Boulder welcome the proximity to the RTD bus station. Tutors and staff at Mindfish can enjoy a more interactive day being in Downtown Boulder as well, especially since the one-on-one nature of tutoring can be tiring. Overall, the energy of being in the heart of the city is invigorating for tutors, staff, and students alike.

Beyond Boulder, Mindfish has added offices in Lakewood, two offices in Denver proper (including one in the Denver Tech Center), and a Boise, Idaho location. All of these offices have been thoughtfully chosen for their location and proximity to major high schools in the area. Krug hopes to open offices in Fort Collins and Colorado Springs.

Above all, they are trying to do their part to support the changes to life during the COVID-19 outbreak. Keeping the momentum going after switching to remote learning is an adjustment for everyone and Mindfish wants to make sure the drop-off is minimal when students are back in a classroom.

Joining the plethora of pet-focused stores in the Sunrise Shopping Center, Woof Gang Bakery is a Florida-based pet retail and grooming chain that will open its first doors in Colorado. The leasing team at WW Reynolds helped Woof Gang Bakery find its perfect Boulder home as it steps into the Colorado market. We had a chance to catch up with Paul Allen, president and CEO of the franchise nationwide, who fills us in on what Woof Gang Bakery is, why they do what they do, and how they keep our furry friends happy. 

What is Woof Gang Bakery and how did it all begin? 

Woof Gang Bakery is one of the nation’s fastest growing pet retail and grooming chains. Woof Gang Bakery began as a single store in Jupiter, Florida in 2007. Paul Allen, president and CEO, and his wife Cara felt the need for a pet store that offered customers a better shopping experience. So, they decided to start their own pet store and create an environment where franchise owners and employees would know the name of their customers and their pets. In 2009, the company introduced professional pet grooming as part of the store experience – a service that compliments the retail side of the business.

What kinds of people/needs do you encounter at the bakery?

Each Woof Gang Bakery is a neighborhood store owned by a locally-based franchisee. We are focused on the needs of pet owners and the health and well-being of their pets. We pay close attention to the specific needs of customers and their pets and provide products and services that are tailor-made for them.

What prompted you to open a Boulder location?

As one of the nation’s fastest growing pet retail and grooming chains, pet-friendly Boulder was a natural choice. The Woof Gang Bakery Boulder location will be the company’s first store in Colorado.

What were you looking for in terms of space, location, and feature wise when looking for this space in Boulder?

In terms of space, we prioritize location, local pet ownership demographics, regular plaza traffic flow for everyday goods and services, and easy access to our storefronts. The spaces must of course be pet-friendly and accommodate our retail and pet grooming buildout model.

What’s in store for the future for Woof Gang?

With a vision to provide quality pet products and services in a customer service-oriented environment, Woof Gang Bakery is at the forefront of the pet industry, selling healthy pet food and treats and premium products and offering award-winning pet grooming services. We will continue to grow with steady, managed expansion to best enable the corporate office to support the needs of new and existing franchises.

The new Sterling Campus is one of Boulder’s most interesting projects happening right now. Not only is it among many new projects bolstering the business presence in east Boulder, it is next door neighbors with the beloved Valmont Park. Check out the latest video showing the future of the Sterling Campus:

Spaces will be available soon!

>> LEARN MORE <<

Meet the new, stylish duo behind Table Mesa Shopping Center’s newest tenants, Drop Match. Kara Korhonen, owner of the wall paper and window treatment company, sat down with us to shed some light on what exactly Drop Match is, what it took for her to find the perfect brick-and-mortar location for it, and what Boulder and beyond can expect in the future.

The lease officially began February 1 and Drop Match will open its doors in mid-March.

What made you choose Table Mesa for your location? What were you looking for in an ideal space? 

“South Boulder is my home and I loved the idea of a three minute commute! I live in the neighborhood behind the Table Mesa Shopping Center and my son attends school at Southern Hills Middle School. And, because the Table Mesa Shopping Center bustles with activity, I knew it was the perfect location for Drop Match.” 

From a financial perspective I needed a small space. From a visual perspective I knew I could create a big, beautiful impact in a relatively small space. I’ve always been able to visualize – you have to in this line of work –  so when I toured the 764 square foot shop (which includes a storage area and bathroom!), I knew it was perfect for Drop Match.”

Tell us a bit about Drop Match. How did it all come to be? 

“I am a registered dietitian nutritionist and have worked in that realm for many years – as a nutrition counselor to babies and children, as a nutrition site supervisor and nutrition counselor to seniors, as a long-term care dietitian and as an online nutrition instructor to culinary students. However, it was time for a change. I’d always loved design and decided to take some classes at Front Range. In January of last year I got a job working as a design consultant and loved it! The company consulted on paint, window treatments, fabrics and wallpaper. I loved working with the window treatments and wallpaper. Because I did not make a liveable wage there – but loved the work and knew I was really good at it – I decided to venture out on my own. I had a little money saved up and decided to go for it. 

Because I love to learn, I attended courses for window treatments (in New York, Washington, Illinois and online) and wallpaper (in Dartford, UK). Initially, I worked from a home office, but I found it extremely difficult to sell wallpaper schlepping big, heavy wallpaper books around town. I realized if I wanted to really succeed, I needed a physical space where people could come and thumb through wallpaper books, look at and operate different window coverings, and discuss needs and wants in home decor related to window fashions and wallpaper. 

What kinds of people/needs do you encounter? What problem does Drop Match solve? 

“I work with all kinds of people – homeowners, renters, designers, real estate agents, general contractors, business owners and property management companies. As we all know, purchasing a home is a major investment and new homeowners often want – or need – new window treatments. I am able to provide them with options whether or not their cost investment is large. 

Let’s face it, Boulder is an expensive place to live and there are many renters. I see many rental properties with aluminum blinds because they are functional and cost effective. However, they don’t always suit the renters’ aesthetics. I work with renters who want something a little visually softer – and still easy on the pocketbook. 

In gorgeous sunny Colorado, often we need to control the natural light coming into our home. (Most people don’t like to wear sunglasses indoors.) I help clients by discussing their needs. For example, is it painfully hot and bright in the afternoon sun? Do you need privacy during the day? Do you need privacy at night? Do you need to protect your flooring and furniture from the sun? And then coming up with types of window coverings that will suit their needs – and be visually appealing.”

What’s in store for the future for Drop Match? 

“I’m excited because we’ve added Hunter Douglas to our window coverings product line and Osborne and Little to our wallpaper selections. I’m thrilled to be able to share with customers the latest in technology, fabrics and patterns. I can’t wait to help make people’s homes more beautiful!”

After years of planning and building, the nearly 90 acres that sit south of Valmont Street in East Boulder is finally taking shape into the Valmont Bike Park and Valmont Dog Park. This is just one of many new, modern updates to the East Boulder neighborhood that will make it the next hottest spot in town for commercial real estate investment. With the University of Colorado right around the corner, and easy access to many of Boulder’s main roads and highways, East Boulder is expecting to see exponential growth in 2020 and beyond.

Nearly 12 years ago, City Council and the Parks and Recreation Department of Boulder started planning the development of Valmont City Park, which is about 90 acres of undeveloped land south of Valmont road. While ensuring that the plans addressed the needs of the community in a holistic way, city planners consulted with a community survey, industry trend analysis, stakeholders, community youth groups, and beyond. The result? A super park with amenities like:

• Bike park
• Dog park
• Disc golf course
• Skate park
• Multi-use path
• Picnic tables
• Public restrooms
• RTD access
• Aquatic facility
• Baseball field

The bike park and dog park portion were finished a couple years ago, while the ball field and aquatic facility have yet to break ground.

What makes the area even more relevant is the geographical gem stone that it is. Sitting just north of the rapidly developing and growing East Boulder, and so near the Boulder Municipal Airport, Valmont City Park adds incredible value to retailers, community members, and commercial and residential real estate professionals alike. The most recent updates to the project include enhancements to the skate park and pump track that is in the park.

In addition to Valmont City Park livening up a quickly developing neighborhood, the highly anticipated Sterling Campus which neighbors the city park is up for grabs. Consisting of 3 separate buildings that range from 20,000 SF to 30,000 SF, the Sterling properties are being completely renovated in 2020 as high-end flex office space sure to make any growing company turn its head. The renovations, geared towards creative tech, are designed by Boulder’s acclaimed Oz Architecture.

The fact that the three Sterling buildings can be leased together for a campus setup, combined with their proximity to the city’s Valmont Park Master Plan, make them a very unique opportunity for Boulder.