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Downtown St. Petersburg World of Beer is for sale

 
The World of Beer location in downtown St. Petersburg is for sale. CHERIE DIEZ   |   Times 
The World of Beer location in downtown St. Petersburg is for sale. CHERIE DIEZ | Times
Published Feb. 25, 2016

As Tampa-based World of Beer expands to Asia, its franchise in downtown St. Petersburg is for sale.

An ad posted this month on LoopNet lists the business at $699,000, exclusive of the land and building, which are under separate ownership.

World of Beer CEO Paul Avery did not respond to a call and email for comment Wednesday. The listing agent, Patrick Calhoon, said the partners who own the franchise are involved in other projects and are "interested in moving on.''

A new owner could renegotiate the lease and continue as a World of Beer franchise subject to corporate approval. Calhoon noted, though, that the location at 100 Fourth St. S does not have a kitchen and does not serve food, unlike newer Worlds of Beer.

"It's somewhat of an outlier,'' he said.

It is also directly across the street from the much larger Hofbrauhaus St. Petersburg, a full-service German beer hall that opened last fall to great excitement and that has continued to draw crowds. Calhoon said he did not think that affected the decision to sell the World of Beer franchise.

The Hofbrauhaus "has actually been helpful to their business as it has increased foot traffic in that area,'' he said.

Late Wednesday afternoon, World of Beer had about 15 patrons compared with double that number at Hofbrauhaus.

According to the LoopNet ad, the St. Petersburg World of Beer presents an "outstanding opportunity to purchase an ongoing successful bar in a prominent and highly desirable downtown location directly situated amongst all of the existing and planned development and nightlife.''

While the building would not conform to new World of Beer prototypes, it could accommodate a small kitchen, Calhoon said. The franchise also is catty-corner from the 400 block of Central Avenue, whose owners are seeking to demolish long-vacant buildings and redevelop the site.

The area "should only continue to boom for whomever purchases the (World of Beer) business,'' Calhoon said. "With the downtown growth and the excellent location, the partners feel it is a good time to sell.''

World of Beer, noted for its extensive craft beer offerings, has 77 locations in 19 states, including taverns in Manhattan and Kentucky. Of those, 14 are company-owned and the rest are franchisees.

Avery, the CEO, announced two weeks ago that World of Beer will open 35 new restaurants this year, including one in Shanghai. After that, it plans to expand to India and the Philippines.

"I am very confident that World of Beer will do well in international markets,'' Avery said at the time. "Craft beer is already there. But no one out there offers what we do.''

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate.