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April 25, 2016

Owner Of Secrets Looking to Sell Colorado Store

DENVER—Secrets Adult Store—a 2,500-square-foot adult retail outlet with 900 additional feet of office space—is up for sale. Tom Toronto, who has owned the store since 1999, said he is willing to entertain serious offers, but is looking for a buyer with more liquid assets, and is not interested in a situation where the seller would finance the purchase. Secrets Adult Store is located at 2280 S. Quebec St., Denver, which is a growing market. Denver is one of the fastest growing cities in the nation, and Secrets Adult Store is located in a strip mall area that gets plenty of traffic. “It is really visible, and gets very steady traffic,” he told AVN. “It’s at a major intersection.” Currently the store carries adult pleasure products and a few smoking accessories. Toronto said the current square footage being used for office space could be converted into additional retail space, including as a space for smoking accessories. “The area we have for smoking accessories we call 'Secret Stash',” Toronto said. “Also, there is a dispensary located next door.” In Colorado, recreational marijuana is legal, but dispensaries are prohibited from selling accessories. The accessories account for about 5 percent of sales at Secrets, Toronto said, but another owner could work to grow that side of the business. Toronto added the store has a long-term lease in place with the building owners, and the lease is transferable. Secrets also has an exclusive contract for two large billboards in front of the store. Toronto said he has received offers from several groups and individuals in the past few years, but only recently became interested in selling.  “I thought now might be a good time to put it out there on the open market and see what offers there might be,” he said. Toronto said he is willing to entertain offers from existing adult chains, as well as individuals. According to demographics, the Metro Denver area had a 1.5 percent population growth rate between 2004 and 2014 and is consistently ranked as one of the fastest-growing areas in the nation. Colorado was the fourth fastest-growing state in 2014. Anyone interested in speaking with Toronto about Secrets Adult Store—about the store or a possible sale—can call him at (720) 748-6069 or email tom@secretsadultstore.com.

 
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