Welcome to LoudounTimes.com
Loudoun Times-Mirror

Auction set for Redskins-themed Hail & Hog space

For a minimum bid of $500,000, the space that housed Loudoun’s now shuttered Redskins-themed sports bar and restaurant Hail & Hog could be yours.

Auction Markets, LLC announced Thursday that they are looking for potential buyers for the 12,000-square-foot, two-level restaurant located at one of Loudoun’s most prominent mixed-use developments.

After filing for bankruptcy and closing its doors earlier this summer, the U.S. Bankruptcy Court approved a bankruptcy trustee’s request to auction off the restaurant and the remaining 17-years of its real estate lease, Auction Markets officials said.

The restaurant was open for less than a year when news spread that it filed for bankruptcy over unpaid contractor bills dating back to the restaurant’s construction.

“Any experienced restaurant operator that wants to be in premium Class A commercial space in the wealthiest county in the country will want to acquire this space through the accelerated bankruptcy sale process,” Stephen Karbelk, the owner of Auction Markets, LLC, said in a prepared statement.

Karbelk said the original owner, Houston-based operator G.R.E.A.T. Grille Group (G3), spent more than $5 million to build the space.

The bankruptcy court approved a $500,000 minimum bid for the property “a small fraction of what it would take to replace this restaurant,” Karbelk said.

“Needless to say, we are getting a lot of interest from prospective buyers ... As customary with all Bankruptcy sales, the final sale is subject to the approval of the Bankruptcy Court, which is expected within several days of the final auction,” he added.

Auction Markets said that initial bids will be due on Sept. 20 and the final auction will he held with qualified bidders on Oct. 17.

Contact the writer at .(JavaScript must be enabled to view this email address) or on Twitter at @SydneyKashiwagi.

Comments


I included the CAM/taxes as part of price per sq foot. That’s why many small business open and close within a year or two. I know a small business owner in Bethesda paying $43/sq ft and CAM at $8/sq ft. If that office space has a garage, that price is closer to $50/sq ft too. Those close to Metro will be paying at least $50/sq ft or more in Ashburn/Loudoun. Check out BLVD apartments where the price for a 1 bedroom(900 sq ft) range from 1421(metro not up and running) to 3417(metro running in Loudoun), a 2 bedroom with den(1250 sq foot) could rent for almost $5K/month.
BOS caved to developer and allowed too many houses(single family) on such small lots.


Cowbell-

$50 a sq foot?!?  That seems excessive. Downtown Bethesda directly across a red line METRO stop prime location is $35 sq feet. It is an office bldg I work in. Very nice building as well.

If your facts are correct…that is an obscene amount of money to pay for ONE LOUDOUN. No metro, purely car dependant, bunch of overpriced restaurants, and very few actually “office jobs”  . That development was supposed to be a mini Tysons Corner, or a Reston Town Center…complete flop this ONE LOUDOUN. Bunch of overpriced homes on top of each other.  Why cannot Loudoun county do anything right like Montgomery County or Fairfax County ?


First someone must bid to get the property, then build out to conform to a new restaurant(another $25-$100K), take on existing lease at 12000 sq ft around $50+/sq ft, pay employees, food, marketing, personal property taxes….They need someone with deep pockets and can afford to lose money. That’s a lot of Sq Footage for a restaurant. Too many choices in Loudoun.


Could keep the sports bar theme but instead of the Redskins, build it around our favorite local baseball team and even keep most of the sineage…

...call it the “Hail and Hounds.”


At $500k they should be able to find someone pretty easily, but of course you have to look at the other restaurants at One Loudoun to see if they still remain busy.  Hopefully it will be something the is not over the top expensive.

Post a comment

Commenting is not available in this channel entry.

Comments express only the views of the author and do not necessarily reflect the views of this website or any associated person or entity. Any user who believes a message is objectionable can contact us at ltmeditor@loudountimes.com.

More News

As Seen IN PRINT
The Loudoun Times-Mirror

is an interactive, digital replica
of the printed newspaper.
Click here for all e-editions.
Email UPDATES