Liquor store to fill Ultimate’s old site

BOULDER – A large format liquor store focusing on wine and craft beers is expected to set up shop in the former location of Ultimate Electronics in Boulder.

Developer Jim Loftus and attorney Bruce Dierking hope to open Hazel’s Wine and Spirits at 1955 28th St. by April or May. They formed Integrity Retail Partners in August to operate the store.

Loftus and Dierking have owned the 35,000-square-foot building for eight years under the legal entity 28th Street LD LLC. The building has been vacant since April 11 when Ultimate Electronics closed after filing for Chapter 11 bankruptcy in January.

SPONSORED CONTENT

Business Cares: June 2024

BizWest Business Cares June 2024 recognizes LGBTQ+ businesses and the Colorado LGBTQ Chamber of Commerce.

Previously, it was occupied by SoundTrack, which filed for bankruptcy in 2005, reorganized as Ultimate Acquisition Partners and renamed its stores Ultimate Electronics. A bankruptcy court judge awarded the lease of the building to Ultimate Electronics at the time.

Dierking, a partner in the law firm Packard and Dierking LLC, said a hearing on the application for a liquor license is scheduled for Nov. 16. Dierking will act as general manager and plans to hire a store manager to oversee day-to-day operations. He said the store will carry from 10,000 to 12,000 units.

Dierking said he and Loftus believe the Boulder market is large enough to accommodate two large liquor stores. Liquor Mart, a 32,000-square-foot store at 1750 15th St., has been around since 1968, when it became the first liquor store in the city.

“Liquor sales have been leaking from the city,” Dierking said. “There’s room for two large stores with the level of traffic of tourism and visitors on game days. … We’ll focus on wines, a lot of wines, Boulder has a big interest in wine, and we want to provide a place for all the fine craft beers that are made in the area.”

Jack Stoakes, general manager at Liquor Mart, was not available for comment Friday afternoon.