Local

Tumwater brewery property sells for $4 million

A steady mist falls on pedestrians Oct. 18 across from the long-vacant brewery site in Tumwater. The historic property has been sold for $4 million to an Anaheim-based development corporation, according to documents filed Thursday with the Thurston County Treasurer’s Office.
A steady mist falls on pedestrians Oct. 18 across from the long-vacant brewery site in Tumwater. The historic property has been sold for $4 million to an Anaheim-based development corporation, according to documents filed Thursday with the Thurston County Treasurer’s Office. Staff photographer

The former Olympia Beer brewery property has been sold — again.

The buyer, Tumwater Development LLC of Anaheim California, purchased the property, for $4 million from Capital Salvage, according to a real estate excise tax affidavit filed Thursday morning with the Thurston County Treasurer’s Office.

Tumwater Development LLC registered as a corporation with the state Dec. 14. Chandulal Patel of Anaheim is listed as a member of the corporation; Patel also signed the tax affidavit Monday.

Tumwater city administrator John Doan said he was aware of that a sale was about to close on the property.

“Capital Salvage was never in a position to be a developer in this property,” he said. “It’s great to see it moving in that direction, and we look forward to working with the owner.”

Located on the south side of Custer Way along Capitol Boulevard, the brewery closed in 2003, four years after Miller Brewing took over. The vacant site has attracted potential buyers over the years, but no deal came to fruition.

The property went to public auction Oct. 28, and three of its four parcels received bids that were well below market value.

Before it went on the auction block, Mike Brennan of Mackinac Partners, which manages the property’s assets on behalf of an ownership group led by Capital Salvage, said there were “a number of interested parties” in the parcels, which include a main brewhouse facility, an office/bottlehouse building, the M Cellar Building, 300 brewing tanks, two industrial warehouses, several outbuildings and two undeveloped lots.

All of the parcels sold close to their last assessed value, according to Thurston County Treasurer Shawn Myers.

Lisa Pemberton: 360-754-5433, @Lisa_Pemberton

  Comments