Reports of the demise of Foxworth Galbraith in El Paso County have been greatly exaggerated.
Instead of leaving the Monument market because of competition from Home Depot, the 105 year old lumber company is scheduled to expand in the Colorado Springs marketplace, said owner Ted Galbraith.
“We lost our lease at the location on Baptist Road,” he said. “And it seemed like the best, honest thing to do was to let our customers know what was going on. We’ve consolidated the lumber yard with others in the area, and we’re looking at sites to expand further.”
Galbraith said the company had not settled on any specific site in the Springs, but noted that the sales people at the Baptist Road location would continue to serve customers in the Monument area.
“We aren’t exiting the Monument market,” he said. “We just don’t have a lease there anymore. I imagine the owners could find something more profitable to do with the land than have a lumber yard there.”
The lumber yard sits on 14 acres owned by Monument resident Mike Watt. The land has increased in value because of retail and residential growth near Baptist Road, Jackson Creek Parkway and Interstate 25. Watt said he is waiting to develop the land until improvements on Baptist Road are finished.
Foxworth Galbraith store manager Dan Jensen said the store was moving for two reasons: losing its lease and realignment with corporate policy.
“As a corporation, we’ve always focused on selling to the commercial, professional builder and remodeler,” he said. “And this store has been a little different than that – so now we’re getting back to the basics, what the company was created for.”
Galbraith and Jensen acknowledged the heated retail environment in Monument, thanks mostly to Monument Marketplace, which houses the Home Depot, but both denied that the nation’s No. 1 building supply retailer drove them from the location at Baptist Road and I-25.
“We lost our lease,” Jensen said. “It’s as simple as that, and there’s no other reason than that. There were articles to the contrary informing the public that we were closing because of Home Depot. There’s no truth to that whatsoever; my employees were very upset.”
The timing of the move was ideal, Galbraith said, because road construction scheduled for Baptist Road will limit traffic at the site.
He said employees at Foxworth Galbraith will continue to have jobs, selling lumber to local builders in Colorado Springs – and in Monument.
“We’ve done an excellent job here,” he said. “We’ve been here for nine, 10 years, and they have just done an outstanding job. We still plan to serve the Monument area from Colorado Springs; we’re confident that we can do just that.”
In addition to the Baptist Road site, Foxworth Galbraith has four locations in Colorado Springs: a building supply location on Nevada Avenue, a truss center and a distribution center on Interpark Drive and a district office on North Stone Avenue.
The company was started by H.W. Galbraith and W.L. Foxworth in 1901. Second, third and fourth generations of both families work at the lumber company, which has 76 locations in Colorado, New Mexico, Arizona and Texas.
The store at Baptist Road sells retail building items, similar to Home Depot. But most Foxworth Galbraith locations serve solely as lumber yards to professional builders. The move, Jensen said, will allow the company to liquidate retail sales and focus solely on providing services to builders and remodelers.
“We’re aligning with the rest of the corporation,” he said. “And we won’t be in the retail sales market anymore. We’re leaving Home Depot to chase after those sales, and we’re focusing on what’s been the backbone of the company.”
Galbraith said Colorado Springs builders and residents will see more of the company in the next year, as the corporation settles on a location for their expansion.
“We have a great presence in the market,” he said. “And we’ll continue to have that presence as we expand.”