eBikes USA owner Houshmand Moarefi is moving the company out of Cherry Creek. (Courtesy eBikes USA)
eBikes USA is packing up its Cherry Creek store and riding west of Interstate 25.
“Cherry Creek helped put us on the map, but I knew this day may come,” owner Houshmand Moarefi said.
After four years in the Plaza at Cherry Creek shopping center at 201 University Blvd., where eBikes USA got its start, Moarefi said next month he’s moving his showroom to 1205 W. Byers Place in the Valverde neighborhood.
The company already has its warehouse and service center at that site.
Moarefi told BusinessDen in November he was contemplating moving out of pricey Cherry Creek in order to save money and stay competitive with national retailers. And with his lease ending in March, he decided now’s the time.
“The changes in the economy, the impact of the voucher rebates on the local markets and the continuing increase in real estate costs, it basically has made it so that it doesn’t make sense for us to stay in Cherry Creek,” he said.
Moarefi said he’s remodeling half of the 6,000 square feet he has just north of Alameda into eBikes USA’s new storefront. That’s the same size as the Cherry Creek store.
“I acquired that space in January 2021 with the notion that if something happens with Cherry Creek, we already have a space that we can stay in long term,” Moarefi said.
Inside ebikes USA’s Cherry Creek store. (Courtesy ebikes USA)
Moarefi said after the Alameda and I-25 bridge construction is complete, the service center will make for a great storefront because it backs up to the Platte River bike trail, has its own parking lot and is located right off the highway.
He said rent is about one-third less than in Cherry Creek. On top of that, insurance for the space is lower and he’s cutting out assembly, labor and transportation costs to get bikes between locations.
With the money and energy saved, Moarefi said he wants to expand eBikes USA by offering e-bike rentals and selling online. Up to this point, he said, the company hasn’t done e-commerce because it lacked the workforce for shipping and money for marketing.
“This is a business decision,” Moarefi said. “We’re very grateful for Cherry Creek, what it has allowed us to do in the past four years. It’s just that … we’re transitioning out, we’re moving on.”
Plaza at Cherry Creek is owned by Denver’s Dikeou Realty, records show. On LoopNet, the company is asking $40 per square foot annually on a triple-net lease for the eBikes USA space.
eBikes USA owner Houshmand Moarefi is moving the company out of Cherry Creek. (Courtesy eBikes USA)
eBikes USA is packing up its Cherry Creek store and riding west of Interstate 25.
“Cherry Creek helped put us on the map, but I knew this day may come,” owner Houshmand Moarefi said.
After four years in the Plaza at Cherry Creek shopping center at 201 University Blvd., where eBikes USA got its start, Moarefi said next month he’s moving his showroom to 1205 W. Byers Place in the Valverde neighborhood.
The company already has its warehouse and service center at that site.
Moarefi told BusinessDen in November he was contemplating moving out of pricey Cherry Creek in order to save money and stay competitive with national retailers. And with his lease ending in March, he decided now’s the time.
“The changes in the economy, the impact of the voucher rebates on the local markets and the continuing increase in real estate costs, it basically has made it so that it doesn’t make sense for us to stay in Cherry Creek,” he said.
Moarefi said he’s remodeling half of the 6,000 square feet he has just north of Alameda into eBikes USA’s new storefront. That’s the same size as the Cherry Creek store.
“I acquired that space in January 2021 with the notion that if something happens with Cherry Creek, we already have a space that we can stay in long term,” Moarefi said.
Inside ebikes USA’s Cherry Creek store. (Courtesy ebikes USA)
Moarefi said after the Alameda and I-25 bridge construction is complete, the service center will make for a great storefront because it backs up to the Platte River bike trail, has its own parking lot and is located right off the highway.
He said rent is about one-third less than in Cherry Creek. On top of that, insurance for the space is lower and he’s cutting out assembly, labor and transportation costs to get bikes between locations.
With the money and energy saved, Moarefi said he wants to expand eBikes USA by offering e-bike rentals and selling online. Up to this point, he said, the company hasn’t done e-commerce because it lacked the workforce for shipping and money for marketing.
“This is a business decision,” Moarefi said. “We’re very grateful for Cherry Creek, what it has allowed us to do in the past four years. It’s just that … we’re transitioning out, we’re moving on.”
Plaza at Cherry Creek is owned by Denver’s Dikeou Realty, records show. On LoopNet, the company is asking $40 per square foot annually on a triple-net lease for the eBikes USA space.
