An office furniture and design firm in Ballpark has bought the building next door to its offices and showroom.
Workplace Elements purchased the 14,600-square-foot building at 2495 Blake St. last week for $7.8 million, according to county records. The building includes a mix of office and industrial space, and the deal gives the company control of nearly 2 acres.
“We wanted to create options for Elements’ future growth,” Workplace Elements Principal Traci Lounsbury said in a Friday email to BusinessDen. “We see great value in continuing to invest in this neighborhood — for our business and for our own attraction and retention efforts.”
For now, however, Workplace Elements isn’t moving in. The company is marketing 2495 Blake St. for lease.
Andy Cullen and Ryan Arnold of Tributary Real Estate represented Workplace Elements in the deal. Michael Bloom of Michael Bloom Realty represented the seller, Furniture Row Colo LLC.
Workplace Elements has 136 employees. Lounsbury, operating as Bigger Leap LLC, purchased the company’s existing facility at 2501 Blake St. in 2004 for $2 million, according to records.
The company spent $4 million to renovate the approximately 32,000-square-foot warehouse, which opened in 2016. The showroom highlights 150 of the best-selling pieces from 50 manufacturers, including furnishings, flooring, ceilings, walls, technology and artwork.
Lounsbury said the company has long been interested in the adjacent property.
“We let them know years ago we’d be interested should the opportunity arise,” she said. “When it did, they approached us.”
Furniture Row is a Denver-based company that is comprised of four furniture retailers: Sofa Mart, Oak Express, Bedroom Expressions and Denver Mattress. The company did not respond to a request for comment.