The building at 9228 Park Meadows Drive in Lone Tree was previously home to Brewery Bar III. (Google Maps)
Douglas County is set to make a small profit after changing its mind about a Lone Tree property it bought earlier this year.
The county paid $3.9 million in January for the vacant 5,600-square-foot restaurant building at 9228 Park Meadows Drive, records show. But on Tuesday, county commissioners unanimously voted to sell it — for $4.1 million.
The county originally bought the building so that the nonprofit Aging Resources of Douglas County (ARDC) could move in. The idea was that the kitchen would allow the organization to continue making and delivering meals to seniors.
But Douglas County Director of Facilities Tim Hallmark said at the Tuesday commission meeting that, after exploring the space further, the county decided it wasn’t a good fit.
“We think there’s probably a much better fit for the future plans of Lone Tree’s entertainment district to sell this property to a restaurateur,” Hallmark said.
The commissioners agreed to sell the property to Kurt Ghiardi, who owns The 303 Sports Grill in Littleton.
Ghiardi did not respond to a request for comment. But Lone Tree Director of Economic Development Jeff Holwell said that Ghiardi plans to open the second 303 Sports Grill at the site. The restaurant sells pub food such as burgers, wings, sandwiches and wraps.
“It’s also something we don’t have — believe it or not — a lot of in the entertainment district and Lone Tree,” Holwell said. “I think it will create an energy in that area that will hopefully make all these entities successful.”
Jeff Brandon with NavPoint Real Estate Group is representing Douglas County in the sale. While both parties are under contract, he emphasized the deal is not finalized and still in the due diligence period.
George Teal, chair of the board of commissioners, said if it goes through, money from the sale will go toward buying a new property for ARDC.
“We originally invested the public’s money in purchasing and here we have a potential buyer who is willing to pay in the property that exceeds the investments of the people’s money and considering the benefits it will present to have a taxable entity, I think it’s a great idea,” Teal said.
Before Douglas County bought the property, it was owned by Doug Lundstrom, who bought it in 2001 for his Mexican restaurant Brewery Bar. After two decades, Lundstrom closed the Lone Tree location last year, telling Westword he wanted to semi-retire and scale back operations. Brewery Bar still operates in Denver.
The building at 9228 Park Meadows Drive in Lone Tree was previously home to Brewery Bar III. (Google Maps)
Douglas County is set to make a small profit after changing its mind about a Lone Tree property it bought earlier this year.
The county paid $3.9 million in January for the vacant 5,600-square-foot restaurant building at 9228 Park Meadows Drive, records show. But on Tuesday, county commissioners unanimously voted to sell it — for $4.1 million.
The county originally bought the building so that the nonprofit Aging Resources of Douglas County (ARDC) could move in. The idea was that the kitchen would allow the organization to continue making and delivering meals to seniors.
But Douglas County Director of Facilities Tim Hallmark said at the Tuesday commission meeting that, after exploring the space further, the county decided it wasn’t a good fit.
“We think there’s probably a much better fit for the future plans of Lone Tree’s entertainment district to sell this property to a restaurateur,” Hallmark said.
The commissioners agreed to sell the property to Kurt Ghiardi, who owns The 303 Sports Grill in Littleton.
Ghiardi did not respond to a request for comment. But Lone Tree Director of Economic Development Jeff Holwell said that Ghiardi plans to open the second 303 Sports Grill at the site. The restaurant sells pub food such as burgers, wings, sandwiches and wraps.
“It’s also something we don’t have — believe it or not — a lot of in the entertainment district and Lone Tree,” Holwell said. “I think it will create an energy in that area that will hopefully make all these entities successful.”
Jeff Brandon with NavPoint Real Estate Group is representing Douglas County in the sale. While both parties are under contract, he emphasized the deal is not finalized and still in the due diligence period.
George Teal, chair of the board of commissioners, said if it goes through, money from the sale will go toward buying a new property for ARDC.
“We originally invested the public’s money in purchasing and here we have a potential buyer who is willing to pay in the property that exceeds the investments of the people’s money and considering the benefits it will present to have a taxable entity, I think it’s a great idea,” Teal said.
Before Douglas County bought the property, it was owned by Doug Lundstrom, who bought it in 2001 for his Mexican restaurant Brewery Bar. After two decades, Lundstrom closed the Lone Tree location last year, telling Westword he wanted to semi-retire and scale back operations. Brewery Bar still operates in Denver.
