BOULDER – W.W. Reynolds Cos., through an entity called 1916 LLC, has purchased the former Savers building at 695 S. Broadway in Boulder for $4.635 million, Boulder County property records show.
Other than confirming the deal, W.W. Reynolds partner Jeff Wingert declined to comment on the purchase or plans for the site. So far, no plans have been submitted with the city of Boulder for any sort of redevelopment.
Boulder-based W.W. Reynolds bought the property from a group of six owners that included the Joyce Family Charitable Lead Annuity Trust No. 2, for which the University of Colorado Foundation is trustee. Two other trusts and three individual owners – Stephen Joyce, David Joyce and Sandra Atkins – were involved in the property’s ownership, sale deeds filed with the county show.
The building, built in 1980, is roughly 40,000 square feet and up until last fall housed a Savers thrift store, a Dollar Tree store, a laundromat and a costume store. There were rumors then that those stores were all losing their leases because the building was being sold to make way for a new Whole Foods Market.
But Heather Larrabee, executive marketing coordinator for Whole Foods, said Wednesday that the property is not a future Whole Foods location.
“I’m not really sure how that story got started,” Larrabee said.
The property had been an Albertson’s grocery store until the mid-1990s.
A source with knowledge of the property told BizWest on Wednesday that Albertson’s had been subleasing the property to other tenants through last year. When Albertson’s lease expired in December, the store opted not to renew, leading to the other tenants having to vacate.
If the 2.4-acre site is redeveloped, it would not be the only activity at the southwest corner of Broadway and Table Mesa Drive.
W.W. Reynolds owns the entire Table Mesa Shopping Center that sits between King Soopers to the west and Broadway to the east. In addition to other improvements at the site, plans have been submitted to the city to demolish a former gas station on the corner and replace it with a 13,000-square-foot Walgreens.