Owners of R/X Automation buy building
Last Updated: 15:35 October 4, 2013
RXAS will begin moving its headquarters there this month, although it likely will be spring before the company is occupying the entire 14,070-square-foot space.
The Denver Post, which occupies part of the building with a distribution center, has a lease that runs through April. RXAS secretary-treasurer Heather Chambers said her company in the meantime will move its production operations into about 6,000 square feet of the building.
RXAS engineers and manufactures packaging and inventory-management systems for the mail-order pharmacy industry. It is based at 1830 Boston Ave., where its lease ends at the end of this month. The company also leases about 3,000 square feet at 105 Sunset Ave., and will pick up an additional 3,000 square feet there where it will move the rest of its office and staff until it can fully occupy the new building.
With RXAS' current lease ending, Chambers said, the timing was right to buy, although it took about a year to land a spot.
"It took us a long time to find the right building," Chambers said. "It's not an easy task in Longmont."
Sherman Street Ventures LLC, the entity formed by RXAS owners to purchase 1314 Sherman St., bought the building from Bramwood LLC. Jason Kruse of The Colorado Group represented the buyer, while Bramwood was represented internally.
RXAS, founded in 2004, has 30 employees, all in Longmont. The privately held company does not disclose revenue. But Chambers said she anticipates growth as the company gets settled in its new location.
RXAS added an information technology and software division this year, and Chambers said the company is looking at new channels for its business as well, such as diagnostic labs and Internet retail companies.
Chambers said RXAS' offices at 105 Sunset St. sustained damage during last month's flood, but the company fared well considering the proximity of its Boston Avenue building and the new building on Sherman Street to the St. Vrain River, which wreaked havoc on other businesses in the area. Chambers said neither 1830 Boston nor 1314 Sherman was flooded.
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