O鈥橣allon Brewery鈥檚 warehouse and tap room are up for sale, and the business is hoping to lease back the property so it can remain open and expand as its moves through bankruptcy, its owner said Monday.
Jim Gorczyca said his Maryland Heights brewery is looking for a third-party buyer as a way to help mitigate costs as the business continues to navigate the 鈥淐OVID hangover鈥 and high interest rates.
According to Gorczyca, the property has seen nearly a dozen potential buyers after being on the market for a year and a half.
鈥淲e haven鈥檛 been able to strike a deal yet,鈥 Gorczyca said. 鈥淲e鈥檙e in the early stages.鈥
The company, smarting from lasting economic effects of the COVID-19 pandemic and rising inflation, filed for bankruptcy mid-June with plans to remain open.
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鈥淚t鈥檚 an emotional time for everyone,鈥 Gorczyca said of the Chapter 11 petition. 鈥淲e didn鈥檛 anticipate this.鈥
O鈥橣allon Brewery is located at 45 Progress Parkway and houses a restaurant, O鈥橞ar, in addition to its brewing operations. It currently employs 40 people, down from its 60-person workforce pre-pandemic.
However, Gorczyca said the company plans to expand brewing operations at its Maryland Heights location within the next year.
The warehouse is at nearly $3 million, with more than 38,000 square feet.
It was built in 1972 and renovated when the O鈥橣allon Brewery took over the space in 2015.
Founded in 2000, the company was acquired by Gorczyca, a former Anheuser-Busch executive, in 2011.
The company sells to wholesalers in 13 states, mostly in the Midwest. Missouri and Illinois are its largest market.
The property sale is being handled by 狐狸视频 real estate broker NAI DESCO.