The building near the intersection of First Avenue and Broadway has been home to The Hornet for 30 years. (BusinessDen file)
The Hornet, a 30-year-old restaurant along Broadway, appears at risk of flying off.
The 5,700 square feet occupied by the eatery was listed for lease last week, according to an online listing. Separately, the business also has been for sale for the past several months, according to a marketing brochure obtained by BusinessDen.
The listings come as the business has a new landlord. The building sold for the first time in 29 years at the end of May.
“I have had discussions with the new property owners but at this time, I am unable to comment any further,” Hornet owner Sean Workman said in an email to BusinessDen.
The restaurant has two years left on its lease with the option to renew for five more. John Livaditis of Axio Commercial Real Estate, who has been marketing the business for sale, declined to comment.
Broker Paul Cattin has the lease listing at his own firm, Platinum CRE. The space is listed for $37 per square foot, or $17,575 per month — not including taxes, insurance or other building expenses. The property’s recent sale could result in higher property taxes, which are passed on to tenants.
Cattin said the goal is to keep the Hornet alive, or at least keep the space occupied by a restaurant. He said Workman has become tired of the increasing costs of operating in the Mile High City.
“The ideal scenario is the Hornet would stay. … Ultimately, it’s just a matter of somebody else taking the reins to give it some renewed energy in that regard,” he said.
The new landlord, 76 N Broadway LLC, purchased the property for $3.3 million in May. One of the people behind that entity, Tyrone Rocque, told BusinessDen at the time that the restaurant at First Avenue and Broadway was a big part of the deal.
“We wanted what was on the first floor — we really wanted The Hornet,” Rocque said then.
Rocque declined to comment Friday. Also for lease in the listing are two of the offices on the building’s second floor, at about $35 and $43 a square foot. Both spaces are under 250 square feet.
The building near the intersection of First Avenue and Broadway has been home to The Hornet for 30 years. (BusinessDen file)
The Hornet, a 30-year-old restaurant along Broadway, appears at risk of flying off.
The 5,700 square feet occupied by the eatery was listed for lease last week, according to an online listing. Separately, the business also has been for sale for the past several months, according to a marketing brochure obtained by BusinessDen.
The listings come as the business has a new landlord. The building sold for the first time in 29 years at the end of May.
“I have had discussions with the new property owners but at this time, I am unable to comment any further,” Hornet owner Sean Workman said in an email to BusinessDen.
The restaurant has two years left on its lease with the option to renew for five more. John Livaditis of Axio Commercial Real Estate, who has been marketing the business for sale, declined to comment.
Broker Paul Cattin has the lease listing at his own firm, Platinum CRE. The space is listed for $37 per square foot, or $17,575 per month — not including taxes, insurance or other building expenses. The property’s recent sale could result in higher property taxes, which are passed on to tenants.
Cattin said the goal is to keep the Hornet alive, or at least keep the space occupied by a restaurant. He said Workman has become tired of the increasing costs of operating in the Mile High City.
“The ideal scenario is the Hornet would stay. … Ultimately, it’s just a matter of somebody else taking the reins to give it some renewed energy in that regard,” he said.
The new landlord, 76 N Broadway LLC, purchased the property for $3.3 million in May. One of the people behind that entity, Tyrone Rocque, told BusinessDen at the time that the restaurant at First Avenue and Broadway was a big part of the deal.
“We wanted what was on the first floor — we really wanted The Hornet,” Rocque said then.
Rocque declined to comment Friday. Also for lease in the listing are two of the offices on the building’s second floor, at about $35 and $43 a square foot. Both spaces are under 250 square feet.
