The Great Divide Barrel Bar is here to stay for the “foreseeable future.”
Real estate development firm McWhinney has purchased the 2.2 acres where the Denver-based brewery’s River North (RiNo) neighborhood taproom is located, and has signed a tenant agreement with Great Divide to keep the location open.
Great Divide announced in January 2021 that it had put the facility and land up for sale, and would be moving its canning operations from the location to the brewery’s original taproom. At the time, founder and president Brian Dunn said the two facilities were not being maximized, and the best option for the brewery was to focus on its original location.
“We’re thrilled to announce that Great Divide will be maintaining a presence in RiNo for the foreseeable future!” Great Divide said in a Facebook post December 20 announcing the sale. “The Barrel Bar, along with a revamped event space, will continue to operate thanks to our partnership with new property owners, the Colorado-based McWhinney firm.”
Great Divide opened the 65,000 sq. ft. facility in 2015, two years after purchasing the 4.7 acres of land it was built on. In 2019, the brewery sold 2.5 acres of that land to McWhinney for $20 million.
“We had interest from multiple parties in the property and were fortunate to be able to select the partner who will best meet the goals of Great Divide Brewing,” Dunn said in a post on the McWhinney website. “RiNo has become our second home and we’re excited to maintain a presence in this vibrant location through the foreseeable future with the Barrel Bar and our warehousing operations. McWhinney embraced this plan and I think it’s a real testament to their understanding of local business and local business partnerships.”
Financial details of the sale were not disclosed, however public records show McWhinney took out a $23.18 million loan from Independent Bank related to the sale, according to the Denver Post.
The Colorado brewery has reported production declines for three consecutive years. In 2018, its annual production declined -20% to 31,576 barrels, followed by another decline of -8% to 29,182 barrels in 2019 and a -29% decline to 20,812 barrels in 2020, according to the Brewers Association (BA).
Dunn told the Denver Post that 2021 production exceeded 2020 levels, but not 2019. He added that he expects the Barrel Bar to remain open for “at least five years, if not longer” while McWhinney determines its development plans for the land.
McWhinney has invested in mixed-use real estate projects across Colorado, Texas, Massachusetts, Oregon, California and Nebraska.
In addition to the taproom announcement, Great Divide unveiled a new logo Tuesday, the first step in a brand refresh that includes a complete packaging redesign. The new logo is a modernized version of the previous logo with “improved readability, uniform type orientation, and a cleaner, smoother baseline.” The brewery teased the packaging redesign with a blurred-out photo of 13 of its offerings, and said the refresh will launch later this year.
“Don’t worry, your favorite Icons aren’t going anywhere,” Great Divide continued. “They’re just getting a makeover.”