Trader Joe's Makes Move To Open Colorado Store

DENVER (CBS4)- Trader Joe's has filed paperwork with the Colorado Secretary of State's Office to begin operations in the state.

According to the forms, the California-based grocery and specialty-foods company hopes to begin business in April. The company would not comment to CBS4 about the filing or where it hopes to open its first store.

Sources told CBS4's partner, the Denver Business Journal, that Trader Joe's has inked three contracts to lease locations in metro Denver. It isn't clear where the locations will be.

Dennis Huspeni with the Denver Business Journal had been digging into the story and stopped by CBS4 studios to talk about the move.

"I've talked to some commercial real estate brokers and they told me that Trader Joe's has signed three leases," Huspeni said. "They didn't give me any specific locations. The Boulder Daily Camera is reporting it will go to the 29th Street Mall."

Huspeni said that other than that it's all been just speculation so far.

There is a Facebook site dedicated to bringing Trader Joe's to Colorado. There was also an online poll that got more than 4,300 responses. Huspeni said the Denver Business Journal ran a poll in 2010 asking which retailer Coloradans would like to have the most and Trader Joe's "was by far and away the one that got the most response."

It's also an important economic story for Colorado. With stores like Sunflower Market, Natural Grocers and Whole Foods, it seems it would be hard for Trader Joe's to come in and compete.

"They are going to compete very well. It doesn't matter where they're located ... because they're what we call a 'destination retailer.' People are going to go to them, there will be lines outside the store when they open, much like IKEA and H&M," Huspeni said.

Huspeni predicts Trader Joe's will definitely be a hit in Colorado.

Additional Resources: Trader Joe's Filing

Read more on the website of CBS4 partner the Denver Business Journal.