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E Source will move to a 24,000-square-foot space at 1745 38th St. The company has signed a 10-year lease for the space and is anticipating moving in January.
E Source employs 70 people in Boulder and 80 employees total, and has been in business for 25 years.
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“Our company’s mission is to advance the efficient use of energy and the new facility lets us ‘walk our talk,’ ´ said Gary Sunshine, E Source’s executive vice president and chief operating officer, in the announcement. “We’re excited about the building, and the improvements will put us well above Boulder’s exacting energy codes.”
E Source conducts industry and market research that is used by more than 300 companies, said Wendy Bloechle, vice president for marketing and customer service. Its clients primarily are natural gas and electric utilities and companies that use large amounts of energy. E Source’s specialties include best-practices research in energy efficiency, marketing and customer service, Bloechle said.
E Source and the building’s owner, Bancroft Capital, will cooperate in making extensive modifications to the property.
“We’re basically gutting the whole thing,” Bloechle said.
The decision to relocate primarily was driven by a desire to be able to upgrade a property as an example for clients. E Source’s staff size will not change much after the move, she said.
The property’s owner has been E Source’s landlord before and supports the company’s desire to remake the building.
“We came to appreciate the environmental focus of E Source when they were a tenant of ours at 3333 Walnut 10 years ago,” Bancroft Capital principal Joe Lamkin said in the release. “We jumped at the opportunity to welcome them back, and for the great opportunity to learn from them how to transform an older building into an energy-efficient showpiece … and that’s exactly what is happening at 1745 38th Street.”
Gary A. Aboussie of The Colorado Group represented E Source. Becky Gamble with Dean Callan & Co. represented Bancroft.
E Source currently is located at 1965 N. 57th Court in Boulder, a 24,900-square-foot space.