We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Twenty 1 Twenty 5 LLC paid the Keneth C. Schneider Family Limited Partnership LLP close to $1.8 million for the 17,200-square-foot building. Becky Callan Gamble and Brit Banks of Dean Callan and Co. brokered the deal.
FIUS, which stands for Family Inada US, distributes Japanese-made Inada massage chairs in the United States as well as the Positive Posture line of recliners. Positive Posture LLC is a separate company from FIUS, but it operates under the same roof and has some ownership crossover.
President Cliff Levin said both FIUS and Positive Posture will move to the new building over the next month and occupy about 11,600 square feet. Construction supplier Fastenal has an existing lease on the remaining space and will remain there. FIUS and Positive posture lease about 3,500 square feet at 1750 55th St. now.
Levin said the extra space was needed as sales increase and technical service demand increases. A 2,200-square-foot factory showroom will also be part of the new digs. FIUS and Positive Posture employ nine people in Boulder and 11 in all, and Levin said that number could grow by two or three this year.
Positive Posture chairs are designed in Boulder and made overseas. FIUS has a warehouse in Southern California where the Inada and Positive Posture chairs are imported and distributed from.
FIUS has a dealer base of 300 stores around the country. But with no dealers locally, Levin said the showroom will give local customers a chance to try out and purchase the chairs. The showroom will also serve as a dealer training center.
Levin said much of eight-year-old FIUS’s growth has been driven by an increasing dealer base and increased advertising spending. Levin said the company enjoyed 22-percent revenue growth in 2013, and he projects about $25 million in revenue this year.
FIUS replaced a hydroponics store that moved to south Boulder. He said the company has no plans to occupy the Fastenal space in the near future.
“We’re adding so much space as it is that I think it will sort of take us some time to fill up,” Levin said.