At first, it was one of the hottest joints in town, but its popularity suffered from newer competition and it quietly closed its doors last year.
Soon after that, Barnhart, who heads Barnhart/CMI Advertising, Public Relations and Interactive, signed a $5 million, 10-year lease with an option to purchase. Ten months later, after investing $2.4 million in renovations, he bought the building. The agency plans to start moving into the space in September.
Brokers on the deal included Doug Wulf and Joe Sigdestad of Fuller and Co., which represented 1819 Wazee LLC, the Barnhart entity that bought it. Todd M. Wheeler of Cushman & Wakefield represented the seller, Folsom LLC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
