The buildings at 3901 and 3903 Tennyson St. both sold in recent weeks. (Thomas Gounley photos)
Asana Partners isn’t the only one buying along Tennyson Street.
While the Charlotte-based firm has spent $11 million along the Berkeley retail corridor since 2018, including two buys since late December, three real estate transactions not involving Asana have closed in recent weeks.
The first involves Thai food.
Yubraj and Anita Gurung, acting as Gurung II LLC, paid $1.2 million last week for the restaurant building at 3901 Tennyson St., according to public records.
Chase Bank provided financing for the deal. According to a LoopNet listing, the building dates to 1953 and is 2,240 square feet, which makes the deal worth $536 a square foot.
The structure was previously home to brunch spot Revelry Kitchen, which closed on Jan. 1.
On Friday, Anita Gurung told BusinessDen that she and her husband plan to open a Beau Thai restaurant in the space. The Gurungs already operate restaurants with that name in Evergreen, Castle Rock and Denver’s West Highland neighborhood about a mile away from Tennyson Street.
Beau Thai will actually be the third Gurung eatery along Tennyson. Yubraj’s brother Khagendra Gurung opened a Mediterranean restaurant called Mazevo at 3961 Tennyson St. in October. And he plans to open Himalayan Spice in the former Biju’s Little Curry Shop space at 4279 Tennyson St.
The Revelry building was sold by Raleigh Investors LLC, which paid $310,000 in June 2002 for it and the building next door, at 3903 Tennyson St., records show.
Raleigh Investors LLC, a group that includes Dan Jimenez and Jeff Laws, also sold the 3903 building in late January.
The 1000-square-foot bungalow, previously home to a salon called The Brush and Comb, was purchased by Gretl Real Estate LLC for $567,500, records show. The deal works out to $567 a square foot. Commerce Bank provided financing for the deal.
Jimenez’s investor group also owns the Local 46 building at 4586 Tennyson St., as well as several adjacent parcels.
The ownership group was under contract last year to sell those properties to Washington-based multifamily developer Holland Partner Group, which proposed a three-story, 130-unit project at the site. But Jimenez said Friday that Holland was no longer under contract.
Jimenez and his partners recently reached a deal with Local 46 ownership to reopen the bar at its original location this summer, before the business decamps eight blocks south and renames itself Local 38.
The buildings at 4114-4120 Tennyson St. sold for $1.8 million.
Third deal a redevelopment play
The third non-Asana deal to close in recent weeks was for 4114-4120 Tennyson St.
Denver-based Osage Properties Group purchased 0.29 acres across the two parcels for $1.8 million in late January, according to public records. That’s $142 a square foot for the land. MidFirst Bank provided financing for the deal.
Broker Hunter Schaefer of NorthPeak Commercial Advisors represented the buyer. NorthPeak said in a statement that Osage plans to build a three-story, 27-unit apartment building with 2,000 square feet of retail space.
A rendering of the project planned for 4114-4120 Tennyson St. (Courtesy of NorthPeak Commercial Advisors)
The properties were sold by Richard Stewart, who also sold a fire-damaged building across the street in late 2019.
Osage, founded by Kirk Scott and Brian Funk, is familiar with the area. According to the company’s website, Osage is a partner in the six-story, 39-unit project currently being constructed at 3870 Tennyson St. by Denver-based Alpine Investments.
The buildings at 3901 and 3903 Tennyson St. both sold in recent weeks. (Thomas Gounley photos)
Asana Partners isn’t the only one buying along Tennyson Street.
While the Charlotte-based firm has spent $11 million along the Berkeley retail corridor since 2018, including two buys since late December, three real estate transactions not involving Asana have closed in recent weeks.
The first involves Thai food.
Yubraj and Anita Gurung, acting as Gurung II LLC, paid $1.2 million last week for the restaurant building at 3901 Tennyson St., according to public records.
Chase Bank provided financing for the deal. According to a LoopNet listing, the building dates to 1953 and is 2,240 square feet, which makes the deal worth $536 a square foot.
The structure was previously home to brunch spot Revelry Kitchen, which closed on Jan. 1.
On Friday, Anita Gurung told BusinessDen that she and her husband plan to open a Beau Thai restaurant in the space. The Gurungs already operate restaurants with that name in Evergreen, Castle Rock and Denver’s West Highland neighborhood about a mile away from Tennyson Street.
Beau Thai will actually be the third Gurung eatery along Tennyson. Yubraj’s brother Khagendra Gurung opened a Mediterranean restaurant called Mazevo at 3961 Tennyson St. in October. And he plans to open Himalayan Spice in the former Biju’s Little Curry Shop space at 4279 Tennyson St.
The Revelry building was sold by Raleigh Investors LLC, which paid $310,000 in June 2002 for it and the building next door, at 3903 Tennyson St., records show.
Raleigh Investors LLC, a group that includes Dan Jimenez and Jeff Laws, also sold the 3903 building in late January.
The 1000-square-foot bungalow, previously home to a salon called The Brush and Comb, was purchased by Gretl Real Estate LLC for $567,500, records show. The deal works out to $567 a square foot. Commerce Bank provided financing for the deal.
Jimenez’s investor group also owns the Local 46 building at 4586 Tennyson St., as well as several adjacent parcels.
The ownership group was under contract last year to sell those properties to Washington-based multifamily developer Holland Partner Group, which proposed a three-story, 130-unit project at the site. But Jimenez said Friday that Holland was no longer under contract.
Jimenez and his partners recently reached a deal with Local 46 ownership to reopen the bar at its original location this summer, before the business decamps eight blocks south and renames itself Local 38.
The buildings at 4114-4120 Tennyson St. sold for $1.8 million.
Third deal a redevelopment play
The third non-Asana deal to close in recent weeks was for 4114-4120 Tennyson St.
Denver-based Osage Properties Group purchased 0.29 acres across the two parcels for $1.8 million in late January, according to public records. That’s $142 a square foot for the land. MidFirst Bank provided financing for the deal.
Broker Hunter Schaefer of NorthPeak Commercial Advisors represented the buyer. NorthPeak said in a statement that Osage plans to build a three-story, 27-unit apartment building with 2,000 square feet of retail space.
A rendering of the project planned for 4114-4120 Tennyson St. (Courtesy of NorthPeak Commercial Advisors)
The properties were sold by Richard Stewart, who also sold a fire-damaged building across the street in late 2019.
Osage, founded by Kirk Scott and Brian Funk, is familiar with the area. According to the company’s website, Osage is a partner in the six-story, 39-unit project currently being constructed at 3870 Tennyson St. by Denver-based Alpine Investments.
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