Changes are ahead at Pour House, the midtown Sacramento bar and eating spot known for its tabletop taps and weekend brunches.
Principal owner Trevor Shults reports he has “an agreement for a possible sale” of the business to the operators of two downtown Sacramento lunch spots, Dad’s Sandwiches and Dad’s on J.
Shults, one of the city’s top bar and club owners, said the sale is likely to close in the next month or so and “free up enough time to focus on the new projects.”
That’s a reference to Seventh and K streets, where Shults and partner Bob Simpson are planning to open up three restaurants and bars, totaling about 12,000 square feet, to serve crowds drawn to the Golden 1 Center opening next year.
Another factor in his thinking: the Pour House site at 1910 Q St. could benefit from several housing and retail projects that developer Sotiris Kolokotronis is planning nearby.
“Obviously, Sotiris’ development is going to be great for that area, and we wanted to see if we could get a good price” for the business, said Shults, whose other ventures include Crawdad’s on the River, Barwest, Vanguard lounge and Social Nightclub.
The sale covers only the Pour House business, not its building, which continues to be owned by restaurateur Kurt Spataro.
Among the several groups responding to the sale offering from Shults were D.J. Rogers and Mick Stevenson, co-owners of the Dad’s operations.
Rogers said he and Stevenson have been “big fans” of Shults’ various endeavors and aren’t planning any immediate changes at Pour House aside from some menu tweaks.
“We’ll just be putting Mick’s spin on it,” he said.
The “vape bar” that’s been operating at the rear of the building probably will not stay there under the new owners, Shults said.
Pour House, which has been in business for three years and operated as Whiskey Wild Saloon before that, sits alongside the Union Pacific rail tracks and has had some “perception” issues, Shults said, due to the vacant parcels on its periphery.
But two of those parcels now are slated for housing under the Kolokotronis development plans.
And Rogers, a musician, said he likes the bar’s proximity to the Press Club, Starlight Lounge and other local nightspots. Of the Pour House, he said: “It’s a little hidden gem.”
Bargain hunter still buying
Sacramento’s most active buyer of commercial real estate is continuing his torrid acquisition pace.
Ethan Conrad this week purchased a vacant former Albertsons store site at 5025 Marconi Ave., his 20th acquisition deal this year.
And with several other transactions in escrow, the owner of Ethan Conrad Properties expects to have 25 deals done by the end of the year, adding to the 4.7 million square feet of mostly local commercial space in his portfolio.
“I’m not aware of any buyers that have bought (even) four or five properties” this year, he said.
We’ve done over a deal a day ... which, candidly, is a little mind-boggling.
The Marconi deal, completed for about $1.5 million, seems to follow the standard Conrad game plan: Buy a neglected, often vacant property at a deeply discounted price, spruce it up and then re-tenant it. He reports that one national grocer already is interested in leasing the 45,507-square-foot site once a significant rehab is complete.
“The real plus there is the population density,” Conrad said of the Carmichael location. “There are a lot of rooftops in that area.”
While adding properties, Conrad also has been busy signing up new tenants and renewing existing ones at his holdings.
Through Friday, he said he has completed 278 lease deals this year on top of the 20 acquisitions and five building sales.
“We’ve done over a deal a day, including weekends,” Conrad said, “which, candidly, is a little mind-boggling.”