$7.8M Purchase Positions Workplace ELEMENTS for Long-term Growth
DENVER — Workplace ELEMENTS, LLC, a full-service enterprise providing progressive furniture and architectural products, has purchased a 14,600-square-foot adaptive reuse building located at 2495 Blake St. in Denver’s Ballpark Neighborhood.
Andy Cullen and Ryan Arnold of Tributary Real Estate, a fully integrated brokerage, development and investment firm based in Colorado, represented Traci Lounsbury, principal of Workplace ELEMENTS, LLC. The seller and current occupant, Furniture Row LLC, was represented by Michael Bloom of Michael Bloom Realty. The property was purchased for $7.8 million.
The 2495 Blake St. warehouse includes both office and industrial space, with a vaulted wood barrel ceiling accented by steel cross braces, similar to the directly adjacent 33,743-square-foot ELEMENTS’ Discovery Center, which features a showroom and offices for the 136-person company. Lounsbury purchased that building in 2004, undertaking a $4 million renovation to create the Discovery Center, which debuted in 2016.
Both properties include surface parking on either side of the buildings. Together, the properties create a nearly 2-acre parcel on the cusp of Denver’s Lower Downtown and River North districts.
“We’re excited to support the continued evolution of ELEMENTS as they meet the growing demand for workspace interiors solutions that support a modern workforce,” said Cullen.
Photo courtesy of Tributary Real Estate