30 May 2012
The owners of Oskar Blues Brewery purchased the property that houses their Longmont restaurant in a transaction that could further a short-term goal of expanding the eatery and possibly set in motion a long-term dream to have a "beer train" run between the brewer's Longmont and Boulder locations.
County records that became public this week show that Red Clay LLC -- an entity registered to Oskar Blues' founders -- bought the property at 1555 S. Hover St. for $1.525 million. The seller of the 7,508-square-foot restaurant, which sits on nearly 5 acres, was Pratt Management Company LLC, according to the documents recorded on May 24.
Oskar Blues, based in Longmont, has leased the 1555 S. Hover St. property since 2009 when it
Oskar Blues Home Made Liquids & Solids in Longmont.
opened Oskar Blues Home Made Liquids & Solids at that site.
When reached Wednesday, owner Dale Katechis said the purchase would allow for the opportunity to expand the 340-seat restaurant by about 80 to 100 seats and also add to the on-site parking.
"It's been a good year of growth," he said. "The real estate acquisition ... made a great deal of sense."
The privately held Oskar Blues recorded a 40 percent increase in its beer sales in 2011 from the year before. The purchase of the Hover Street property was partially financed by a loan from Guarantee Bank, Katechis said.
"The opportunity came up to buy it, and we went for it," he said. "I love the lot. My master plan is to put a beer train on those railroad tracks."
Katechis said his dream would be to have an open-air beer train shuttle customers between Oskar Blues' brewery off Pike Road and the Hover Street restaurant down to the planned Depot Square at Boulder Junction development in Boulder, where the brewer is planning to open a restaurant inside Boulder's historic train depot.