10 Barrel Brewing’s headquarters is for sale

I ran across this the other day on MLS and emailed the realtor but never did get a reply—and it’s public now: 10 Barrel Brewing has put its headquarters up for sale. The asking price? $19,714,000.

Here’s some details from the flyer:

Compass Commercial is pleased to present the rare opportunity to acquire 10 Barrel Brewing’s headquarters facility in Bend, Oregon. The property, comprised of approximately 67,574 square feet on 3.94 acres, was constructed in 2016 as a build-to-suit for 10 Barrel Brewing. The multi-purpose facility consists of 48,367 square feet of production and warehouse space, 8,276 square feet of Class A office space, 5,847 square feet of brewpub and 5,084 square feet of event space. All of the company’s bottling, canning, warehousing and distribution functions are handled out of this facility. The beer is brewed in the building located directly to the north and is not a part of this offering. 10 Barrel was acquired by Anheuser-Busch InBev (“AB InBev”) in November 2014 as part of the company’s expansion into the high-end craft beer space. 10 Barrel was founded in Bend in 2006 and operates brew pubs in Bend (2), Portland, Boise, San Diego and Denver and distributes its beer nationwide. The Lease is guaranteed by AB InBev and runs through May 31, 2027 with annual increases in Base Rent. The property is located in Bend’s most desirable industrial sub-market and benefits from its close proximity to Highway 97, a major north-south freeway connecting Washington State to California.

Note the brewery (the building just north of this) is not for sale, so 10 Barrel isn’t leaving. But it’s an odd one, it almost seems like AB-InBev wants to sell the building for cash but have 10 Barrel lease it back—that’s the first thought I’d have since the packaging and warehousing takes place here. But that’s speculation only. It’s a bit strange though.

What happens in 2027 when the lease runs out? Any takers?

Update from GM Kyle McKee:

10 Barrel’s business and operations will not be impacted by any potential real estate transactions, the only change would be a new landlord. We look forward to continuing to serve our friends and neighbors at the Bend Eastside pub for years to come.

10 Barrel has a long term lease agreement and will be unaffected by any potential real estate transactions.