BOULDER — PopSockets LLC, a designer and manufacturer of mobile-phone accessories, has leased 46,000-square-feet of space in Flatiron Park in Boulder.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
PopSockets will move from 25,000 square feet at 3033 Sterling Circle in Boulder to 5757 Central Ave. in late 2018 or early 2019.
It is the largest office lease transaction in the Boulder market year-to-date, and one of the largest signed in the last 18 months, according to research conducted by Newmark Knight Frank.
NKF’s Scott Garel and Jared Leabch, along with Dean Callan and Co.’s Becky Gamble and Beau Gamble, represented the owner-partnership of Crescent Real Estate LLC, Goldman Sachs Asset Management Private Real Estate and Lionstone Investments, on the lease transaction; NewOption Partners Managing Partner Paul Whiteside and Broker Aaron Evans represented the tenant.
“There are limited availabilities in the Boulder market for tenants that need greater than 45,000 square feet,” said Jared Leabch, associate director at NKF.
The owners of Flatiron Park are converting some of its existing warehouse space to office/flex and creative office space. The park’s amenities include a fitness center and walking/riding trails, service amenities like Upslope Brewery, a deli, Ozo Coffee and food-truck service, and transportation options.
PopSockets was founded by former philosophy professor David Barnett and started from Barnett’s garage in 2014. The Colorado company has sold more than 40 million PopSockets grips globally.
“Over the past several years, PopSockets has experienced incredible growth — our once huge office is suddenly bursting at the seams,” said Bob Africa, PopSockets’ chief of staff. “We’ve been fortunate to attract a team of extremely talented people, and we are creating a collaborative space for them to thrive.”
PopSockets’ employee amenities will include food service, a yoga studio and a dog run. Oz Architecture has been hired as the project architect and is working on a way to join two stairs in the vintage space to open the interior, create unrestricted floor plans and upgrade the façade.
Flatiron Park has 22 office/flex buildings totaling 941,000 square feet. Available spaces range from 929 square feet to 61,556 square feet.