After sitting vacant since 2020, the building that was the location of shuttered German restaurant Hofbräuhaus St. Petersburg has been sold for $7.1 million, according to the Tampa Bay Business Journal.
The Business Journal report said public records show the building and its parking lot, located at 123 4th St. S, was sold by Woodsgroup Holdings LLC to a group connected to Nuri Erol, the founder of Washington D.C.-based franchise Wiseguy Pizza.
The German restaurant and beer hall was conceived by Joe and Mike Matuschka, a father and son from Chicago, who bought the building from the Tampa Bay Times in 2014. It was purchased for $2.7 million, with another $3 million put in for renovation. The building was formerly the Tramor Cafeteria, the Times’ employee cafeteria, which was also open to the public. Hofbräuhaus St. Petersburg opened in 2015.
In 2017, the Matuschkas sold the business to Bavarian Partners, led by Keith Sirois, the CEO of Big Boy restaurants. A capital investment firm bought the property and sold it to WG St. Pete in 2019. Bavarian Partners entered into a 15-year lease with WG St. Pete.
But in 2019, after failing to pay rent for several months, WG St. Pete filed a lawsuit against Bavarian Partners. Hofbräuhaus St. Petersburg closed in March 2020.
In April 2020, WG St. Pete won the lawsuit and was awarded close to $7.2 million, covering the full term of the lease.
Plans for the building were not announced.
Information from Times files was used in this report.