Anchor Steam Brewery will once again produce its crisp amber lager on San Francisco’s Potrero Hill following the $9.9 million purchase of its former plant at a quarter of its asking price.
An affiliate of the family office for Hamdi Ulukaya, CEO of New York-based yogurt maker Chobani, bought four parcels last week making up the 2.2-acre plant and taproom at 1705 Mariposa and 495 De Haro streets, the San Francisco Business Times reported.
After Tokyo-based Sapporo Holdings closed the 127-year-old brewery last summer, it listed the four-story, 110,000-square-foot Art Deco brewery and tap room for $40 million.
The Turkish billionaire stepped up last week to become the new owner of America’s oldest craft brewery with plans to restart production and keep its taps flowing atop Potrero Hill.
The price wasn’t disclosed after the May 30 purchase. But updated city records reviewed by the Business Times show that Potrero Hill SFII LLC, tied to Ulukaya’s family office, got a good deal.
The sale included two deed transactions of $4.95 million each, according to city transfer tax figures, for a total of $9.9 million, for four parcels at 501 De Haro Street No. 1, 501 De Haro Street No. 2, 495 De Haro Street and 330 Carolina Street.
It’s not clear how much Ulukaya paid for the brewery’s recipes, intellectual property and brewing equipment.
“I am humbled and excited to be part of this city and its rich community,” Ulukaya posted on LinkedIn last week. “San Francisco, and now, Anchor Brewing, are both experiencing the magic of rebirth. I have always believed brands born in places like this deserve to be treasured, respected, and loved.”
Anchor Steam was acquired by Sapporo in 2017 for $85 million. About $12 million of that was the real estate, according to records.
In July, Sapporo announced it would shut down the suds factory after years of declining sales, increased competition and consumer shifts away from beer.
The steam-based beer maker was founded in San Francisco in 1896 and became known as “America’s First Craft Brewery.” The company moved to the Mariposa Street facilities in 1979.
— Dana Bartholomew
Read more
Commercial
San Francisco
Chobani CEO’s family office buys SF’s Anchor Steam Brewery
Commercial
San Francisco
Buyers found for “whole kit and kaboodle” at Anchor Steam Brewery
Commercial
San Francisco
CBRE lists former Anchor Steam Brewing site for $40M