BOULDER — Sage V Realty LLC has purchased two buildings in downtown Boulder, where Sage V Foods will occupy some of the space and the remainder will be available for lease following a remodel.
Sage V Realty is an affiliate of Boulder-based Sage V Foods. The company is headquartered in Boulder and has manufacturing plants in Arkansas and Texas. It primarily manufactures and sells rice-based ingredients to large food companies, but is increasing its presence in the retail sector with offerings of convenient frozen-rice products.
Sage V acquired buildings at 1600 Canyon Blvd., previously occupied by Taggart Insurance Co., and 1728 16th St., for $3.2 million from Taggart-Schone LLC. The property initially was listed for $3.6 million. Taggart Insurance earlier this year moved from 1600 Canyon Blvd., to 1680 38th St., in Boulder.
The buildings were constructed in the early 1990s.
“We plan a major remodel to give it a modern industrial look with high ceilings, open spaces and lots of light,” said Pete Vegas, owner of Sage V. The company plans to occupy the bottom floor and about half of the top floor of the building at 1728 16th St. The balance of the second floor at 1728 16th St., and the building at 1600 Canyon will be available for lease. Vegas expects the renovations to be completed by March 2018.
Sage V Foods, currently at 1470 Walnut St., in Boulder, was represented by Steve Sims of Gibbons-White in the transaction. Danny Lindau and Jason Kruse of The Colorado Group represented the sellers.