The building at 854 N. Broadway, along with a small parking lot across the alley, sold for $3.23 million. (Thomas Gounley/BusinessDen)
An office building at the edge of the Golden Triangle has changed hands, but its tenant isn’t going anywhere anytime soon.
The three-story building at 854 N. Broadway sold last week for $3.23 million to Brew Lab LLC. John Cianci, Ilan Salzberg and Jeffrey Charles Kipp signed on behalf of the entity, and said they plan to hold the building as an investment.
The deal also included a small parking lot across the alley at 853 N. Lincoln St.
The building is leased to Evo, a ski and bike shop that operates next door at 860 N. Broadway. It currently uses the three-story space for offices, inventory and to size ski boots for customers.
Founded in Seattle, Evo expanded to Denver in 2016 when it purchased the Edgeworks/Doctor Bicycle business. It signed a lease the following year for half of the first floor of 854 Broadway. At the time, Evo shared the space with a marijuana dispensary and a Kung Fu dojo.
“They (Evo) just kind of kept creeping through the building until they were the single tenant,” said NAI Shames Makovsky broker Joey Gargotto, who represented the seller alongside colleague Todd Snyder.
In 2021, Evo — which owns its main 860 Broadway building — expanded further, purchasing the building at 845 N. Lincoln St. to expand rental operations.
“Evo has really sprawled out on this corner and turned it into somewhat of a campus,” Gargotto said.
Stephen Morris, who had owned it for decades, sold the building. The space used to be home to the first Signal Graphics store, a printing shop started by Morris in 1974. He said the building was constructed around 1908, “probably when horses and buggies were going down Broadway, back when it was a two-way road.”
Morris said he purchased the Broadway property from Bill Cook in 1977, who at the time was running Howard-Lorton furniture and had decided to move elsewhere. The price tag on that transaction was under $200,000, Morris said.
He said he bought the parking lot on Lincoln a decade later for roughly $130,000.
Signal Graphics took off, franchising across the city, state and country. But business eventually slowed.
“Of course, new technology came along and quick-print stores faded away,” Morris said.
In 2008, Morris sold the business to a California-based franchising company. A Signal Graphics remained on Broadway until around 2017, when it moved to an industrial space, he said.
Evo moved in shortly after, expanding operations across the city block. Morris said the shop went under contract to buy 854 Broadaway in 2020, only for the pandemic to ruin the deal.
Three years later, Morris finally was able to sell his property to a group of investors.
“We had a good run,” he said.
The building at 854 N. Broadway, along with a small parking lot across the alley, sold for $3.23 million. (Thomas Gounley/BusinessDen)
An office building at the edge of the Golden Triangle has changed hands, but its tenant isn’t going anywhere anytime soon.
The three-story building at 854 N. Broadway sold last week for $3.23 million to Brew Lab LLC. John Cianci, Ilan Salzberg and Jeffrey Charles Kipp signed on behalf of the entity, and said they plan to hold the building as an investment.
The deal also included a small parking lot across the alley at 853 N. Lincoln St.
The building is leased to Evo, a ski and bike shop that operates next door at 860 N. Broadway. It currently uses the three-story space for offices, inventory and to size ski boots for customers.
Founded in Seattle, Evo expanded to Denver in 2016 when it purchased the Edgeworks/Doctor Bicycle business. It signed a lease the following year for half of the first floor of 854 Broadway. At the time, Evo shared the space with a marijuana dispensary and a Kung Fu dojo.
“They (Evo) just kind of kept creeping through the building until they were the single tenant,” said NAI Shames Makovsky broker Joey Gargotto, who represented the seller alongside colleague Todd Snyder.
In 2021, Evo — which owns its main 860 Broadway building — expanded further, purchasing the building at 845 N. Lincoln St. to expand rental operations.
“Evo has really sprawled out on this corner and turned it into somewhat of a campus,” Gargotto said.
Stephen Morris, who had owned it for decades, sold the building. The space used to be home to the first Signal Graphics store, a printing shop started by Morris in 1974. He said the building was constructed around 1908, “probably when horses and buggies were going down Broadway, back when it was a two-way road.”
Morris said he purchased the Broadway property from Bill Cook in 1977, who at the time was running Howard-Lorton furniture and had decided to move elsewhere. The price tag on that transaction was under $200,000, Morris said.
He said he bought the parking lot on Lincoln a decade later for roughly $130,000.
Signal Graphics took off, franchising across the city, state and country. But business eventually slowed.
“Of course, new technology came along and quick-print stores faded away,” Morris said.
In 2008, Morris sold the business to a California-based franchising company. A Signal Graphics remained on Broadway until around 2017, when it moved to an industrial space, he said.
Evo moved in shortly after, expanding operations across the city block. Morris said the shop went under contract to buy 854 Broadaway in 2020, only for the pandemic to ruin the deal.
Three years later, Morris finally was able to sell his property to a group of investors.
“We had a good run,” he said.
