Fall Groundbreaking for New Corporate HQ in Gunbarrel
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8/12/2011 |
FOR IMMEDIATE RELEASE
The Colorado Group, Inc.
August 12, 2011
A long time Boulder-based family company, The Cigarette Store Corp. and its real estate holding company KTDoubleMD, LLC, will break ground this fall on new corporate headquarters in Gunbarrel, announced Scot Smith with The Colorado Group, Inc., the buyer’s representative. “What sparks special note is not only is this outstanding Boulder employer committed to staying in the community, but that they’re actually building a new corporate headquarters from the ground up. In recent years, we’ve had very little commercial construction that starts with the dirt.”
The company was founded in 1984 and has retail operations under the names of Gasamat and Smoker Friendly, said company spokesman and CEO Terry Gallagher, Jr. There are about 425 employees, and the company has 86 company-owned retail outlets in Colorado, Montana, Utah, Nebraska and Wyoming and over 700 Smoker Friendly dealers in 38 states . Gallagher noted his family has been in the Boulder area since the late 1800’s, first working as farmers and miners in the region.
The new 20,000 square foot headquarters will be on 2.21 acres in the Gunbarrel Technical Center, at 6790 Winchester Circle. With a Fall 2011 groundbreaking, the company anticipates a move in to its new facilities by Summer 2012, Gallagher said. Bob Van Pelt is the architect on the project, and two local contractors will be working on the construction as well.
“The principals looked for a building to purchase,” Smith noted, “but just couldn’t find the right building or agreeable terms on an existing facility. They found a great piece of land, bought it for $395,000 (96,265 square feet at $4.10 per square foot) and now can build precisely the headquarters needed and wanted.” Currently, the company headquarters are in a leased facility in Gunbarrel.
The seller on the property was Syngenta Flowers, formerly Fischer U.S.A. Jason Kruse, with The Colorado Group, Inc., was the listing agent and worked on selling the property.
For more information, please contact Scot Smith, The Colorado Group, Inc., 303-449-2131
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