D&K plans to open new print shop in March
Last Updated: 15:27 February 3, 2014
The company closed in December on the purchase of a 16,500-square-foot building at 5637 Arapahoe in Boulder from D&B Ventures LLC for $1,643,400.
D&K president Gary Bennett said the printing company has been looking to move from 2930 Pearl St. for two or three years. But locating suitable warehouse space in town had been difficult.
"Every time we did, it went to a (marijuana) grower or a (craft beer) brewer," Bennett said. "It was crazy.
"We're glad to stay in Boulder, which is nice because we thought we'd have to leave."
The building at 5637 Arapahoe became available when Product Architects Inc., maker of Polar Bottle insulated water bottles, left the space it had been leasing last fall to expand into a larger space in Gunbarrel.
D&K's landlord at 2930 Pearl had informed the company of plans to sell the site a few years ago, Bennett said. But the urgency to find new space increased somewhat for D&K last summer when 2930 Pearl was purchased by a group of Denver developers. In conjunction with three surrounding properties purchased by the same group, the developers have proposed a large mixed-use project on the site that includes retail and office space as well as a 120-room hotel.
D&K, founded in 1964, had leased the spot at 2930 Pearl since 1980. Bennett and his wife have owned the company since 2001, though Bennett has worked there for 37 years, starting when he was just 15 years old. The company employs about 30 people and had about $3 million in revenue in 2013.
Bennett said the main thing that has to happen before the move is getting the new press in place. D&K purchased it used for $500,000.
"We're trying to get that up and running before we move so there's no downtime," Bennett said.
In addition to the new press, D&K will take its current press to the new location as well. The space is about 2,500 square feet smaller than what D&K has now, but Bennett said the new space feels larger because of its more efficient layout.
Bennett said the purchase of the building and the press came at a good time when the business could land favorable financing. D&K financed the purchases through Great Western Bank and the Small Business Administration.
"It's fantastic," Bennett said. "We'll own (the building) for less than we used to be paying in rent. So it's a pretty sweet deal.
"Thank God for Great Western Bank and the SBA."
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