Tebo buys McGuckin distribution facility

BOULDER — Tebo Properties Inc., a major Boulder County commercial real estate firm, recently purchased the McGuckin Hardware distribution facility north of Boulder.

The roughly 52,300-square-foot building on about 35 acres at 6901 N. Foothills Highway changed hands last month for $4.8 million. 

McGuckin is a 65-year-old iconic independent hardware store in Boulder known for its eclectic inventory. Representatives did not respond to requests for comment.

A new tenant for the Foothills Highway space has yet to be identified. Chris Wood/BizWest.

“We bought the facility because we need more warehouse space in our inventory,” Tebo said. “We’ve totally run out and have [no more available warehouse space] in Boulder at all. It was a good opportunity to buy [the McGuckin facility].”

Tebo called the situation a “win-win” for both parties because McGuckin doesn’t require such a large storage center and can operate its distribution from a smaller warehouse.

A new tenant for the Foothills Highway space has yet to be identified,Tebo said

There are no plans in place for large-scale redevelopment on the property, built in 1965. But Tebo said there will be some modest improvements. 

“It hasn’t been updated in forever — McGuckin has been in there for about 40 years,” he said.

 

© 2020 BizWest Media LLC

BOULDER — Tebo Properties Inc., a major Boulder County commercial real estate firm, recently purchased the McGuckin Hardware distribution facility north of Boulder.

The roughly 52,300-square-foot building on about 35 acres at 6901 N. Foothills Highway changed hands last month for $4.8 million. 

McGuckin is a 65-year-old iconic independent hardware store in Boulder known for its eclectic inventory. Representatives did not respond to requests for comment.

A new tenant for the Foothills Highway space has yet to be identified. Chris Wood/BizWest.

“We bought the facility because we need more warehouse space in our inventory,” Tebo said. “We’ve totally run out and have [no more available warehouse space] in Boulder at all. It was a good opportunity to buy [the McGuckin facility].”

Tebo called the situation a “win-win” for both parties because McGuckin doesn’t require such a large storage center and can operate its distribution from a smaller warehouse.

A new tenant for the Foothills Highway space has yet to be identified,Tebo said

There are no plans in place for large-scale redevelopment on the property, built in 1965. But Tebo said there will be some modest improvements. 

“It hasn’t been updated in forever — McGuckin has been in there for about 40 years,” he said.

 

© 2020 BizWest Media LLC