Last week a Facebook post caused a fuss when it said The Cherry Cricket building at 2641 E. Second Ave. is up for sale, but no need to panic.
Wynkoop-Breckenridge LLC, whose real estate holdings include The Cricket as well as the Wynkoop Brewing Co. at 1634 18th St. are being sold and leased back for 20 years with four five-year options. The existing restaurants will stay put.
It’s just a financial move, according to Wynkoop-Breckenridge honcho Lee Driscoll, who said the company will use the money to pay off debt and subsidize further expansion.
“We hope to enter into a sale leaseback,” Driscoll said. “We sell the building and take back a 20 year lease with four five-year options. This is really a financing transaction given we will be the tenants for the next 40 years.”
The Wynkoop Brewing Co. was founded by Gov. John Hickenlooper who started the brewery after he was laid off from his job as a geologist.
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