ITRA Global’s Denver Office Assists Pearl Izumi in Acquisition of New Award-winning World Headquarters

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This building truly serves as a purpose-built space for our employees to craft and deliver Pearl Izumi's products, reflecting Colorado roots, providing direct access to the outdoor sports so loved.

Will Gary, MBA, MIM

The name Pearl Izumi is derived from the gem 'pearl' and an area of Japan known for its clear water, 'Izumi' Translated literally, its name means 'fountain of pearls'.

Pearl Izumi's new 55,000 SF world headquarters office and design/development center, designed by Randy McGee’s team at highly respected ZGF Architects in Portland, Oregon, which recently won four prestigious awards from the American Institute of Architects (AIA) including:

  • AIA Colorado Honor Award
  • AIA Denver Merit Award
  • AIA Portland Citation Award
  • ENR Mountain States, Best of Office, Merit Award

"We are very proud to see this building recognized for its merits," noted Cache Mundy, Pearl Izumi's Vice President Product Merchandising and Development, "as it reflects the passion for outdoor performance products and the athletic lifestyle Pearl Izumi champions. It truly serves as a purpose-built space for our employees to craft and deliver our products while reflecting our Colorado roots with access to the outdoor sports we love."

As a company, Pearl Izumi designs, makes, markets and distributes clothing and shoe products for outdoor sports, including cross-country skiing, triathlon, duathlon and running, but primarily cycling. The name Pearl Izumi is derived from the gem "pearl" and an area of Japan known for its clear water, "Izumi". Translated literally, its name means "fountain of pearls".

Shimano, founded in Japan in 1921, is the parent company of Pearl Izumi. It develops, produces and distributes world-class bicycle components, fishing tackle and rowing equipment.

To commence Pearl Izumi's project, William Gary, MBA, MIM of ITRA MacLaurin Williams, the Denver office of ITRA Global, performed as the Site Selection Consultant and exclusive Buyer’s Agent. Will successfully negotiated purchase of an 8-acre site in the Colorado Tech Center from Elkin Johnson, a regional Industrial Developer and Landlord.

Pearl Izumi retained Bill Mascarenaz of Mascarenaz & Associates as its Project Manager to oversee the complicated design and construction processes.

The 55,000 SF hillside building at 101 South Taylor Avenue has spectacular Front Range mountain views, including the Boulder Flatirons. Pearl Izumi houses its management, finance, accounting, marketing, sales and product design groups in its “Modern Design Barn.” ZGF’s designs, renderings and photos of Pearl Izumi's HQ, can be found here.

With the Coal Creek hike and bike path crossing the property, Pearl Izumi employees test the company's shoes and outdoor clothing during lunchtime training runs. The cyclists, triathletes and duathletes ride out from the secure bike storage room to demo Pearl Izumi's cycling shoes and clothing in all sorts of Colorado weather.

Energy-wise, the Modern Design Barn is very efficient, thanks to the MEP engineering design by Steve Chucovich's team at Buro Happold's office in Los Angeles.

ITRA MacLaurin Williams' Gary also helped Pearl Izumi to obtain economic development incentives from the City of Louisville and assisted with selecting the Project Manager and Project Architect. He recommended that Pearl Izumi would save significant money by hiring a strong Project Manager/Architect team rather than involving a developer.

Bill Mascarenaz selected the candidates for Project Architect, ultimately resulting in the hiring ZGF, supported locally by Boulder's Arch11. Mascarenaz also guided Pearl Izumi's competitive interview process in choosing a General Contractor, Haselden Construction. Bringing the 22-month total project cost in at $10,000,000, Bill added, “It was a challenging task, which saw all of the design, construction and ownership teams work together to accomplish this unique building at an extremely economic cost."

ZGF's Randy McGee commented on the unusual design concept, "A minimal palette of concrete, glass, wood and naturally weathering steel forms an intentionally raw background to the vibrant and innovative outdoor sports products being developed within Pearl Izumi's new world headquarters.

Burrowing into the hillside, the building’s intuitive angles and triplicate clerestories, representing Pearl Izumi’s “Ride-Tri-Run” motto, reflect the sharp presence of the Boulder Flatirons, and bring daylight and natural ventilation (operable windows) far into the workspace year-round, while providing unobstructed views to the outdoors."

"I give major credit to Lily Flores, now Vice President Human Resources at Shimano American Corporation. She was the primary driving force and 'glue' within Pearl Izumi that kept the project moving with the outside professionals," said Will Gary.

ITRA Global is an organization of real estate professionals specializing in representing Tenants and Buyers in the leasing, acquisition and disposition of office, industrial and retail facilities. With coverage in major markets around the world, ITRA Global is dedicated to representing Tenants and Occupiers of commercial real estate. Clients benefit by having an experienced professional as their trusted advisor, providing conflict-free representation and total objectivity.

To learn more about ITRA Global, the Denver/Boulder Office Market, and this product, contact Will Gary at 1.303.294.0277 or email wgary(at) For construction management details, contact Bill Mascarenaz of Mascarenaz & Associates at 303.908.9048 or bmascarenaz(at)

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Beth Wade
ITRA Global
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