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.
“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.
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