It chose the latter.

''I showed them several spaces I list in Interlocken, and they said it didn't fit with their corporate culture,'' Tom Lee, a top broker at the Frederick Ross Co. tells GlobeSt.com. ''They wanted to remain in Boulder. I can't fault them for that.''

Noodles is a fast-growing owner of a quick-casual noodle restaurant chain that serves bowls of noodles for around $5. Noodles signed a five-year sublease agreement with BEA Systems for its 2950 Pearl St. class-A office space between Mike's Camera and Circuit City in the heart of Downtown Boulder.

The company will occupy approximately 23,000 sf on the first and second floors of the circa 1999 building, more than tripling its current space of about 7,000 sf in the Meadows Shopping Center in South Boulder. The BEA sublease includes office-systems furniture.

Aaron Kennedy founded Noodles & Company in 1995 from a small room in his Boulder home.

"We now have 35 staff members at our central support office, where we've been busting at the seams for almost a year," Kennedy says. "This new space is designed in an open format with plenty of natural sunlight which should facilitate cross-functional communication and productivity. Since we're expanding so rapidly and want to stay true to the Noodles & Co. culture, this space will be ideal."

The company is paying $280,000 in rent in its first year, and will pay 15% to 20% more in subsequent years.

Kennedy tells GlobeSt.com he thinks he could have gotten a 25% to 30% discount on his first year's lease payments by choosing Interlocken, in Broomfield.

''It didn't feel right,'' Kennedy tells GlobeSt.com. ''If you want to go to a bookstore or a restaurant in Interlocken and other suburban locations, you have to get into your car. We're a very outdoor, healthy lifestyle oriented firm. And we think picking the right office is a point of inspiration. It helps you retain and attract the right people.''

"We briefly considered moving to Downtown Denver or Interlocken," adds Tom Weigand, Noodles & Co.'s chief development officer. "We searched for space throughout Boulder County, but we just couldn't leave Boulder proper. In fact, our new office will put us into the true heart of Boulder on Pearl Street."

Weigand also says the company selected the new office space because of its size and ability to accommodate growth, its progressive design and finishes, and its modern communications and technology systems.

Noodles plans to provide employees its own version of a company car.

"We plan to provide a fleet of mountain bikes for afternoon jaunts around Boulder, and of course, there will be ample bicycle parking," Kennedy says.

He also says he'll probably buy some used exercise equipment for fitness center and is thinking of installing a day care center.

"We love this space because there is infinite potential to enhance employee amenities. We've been discussing things like a fitness center and a day care center for some time now."

Noodles & Co. currently operates 39 stores and plans to open 24 more this year throughout existing markets and a new one in Washington, D.C.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.