Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Redhook Ale Brewery Inc., a regional brewer partially owned by Anheuser-Busch, will vacate its Fremont office and cease operating the Trolleyman Pub come November.

Dave Mickelson, a Redhook spokesman, tells GlobeSt.com that consolidating operations at its 25-acre Woodinville property makes good fiscal sense. Mickelson says the move was prompted by the expiration of the company’s lease for a relatively under-used 26,000-sf facility and its failure to find a new tenant for a 5,000-sf office space. Formerly occupied by a winery, that space has been vacant for a year.

“We expect this will save the company about $300,000 a year in rent,” Mickelson says, adding it will be good for the headquarters to be located at the company’s main brewing facility. No beer has been brewed at the Fremont property since 1991, Mickelson says.

After its initial opening in Ballard, Redhook founders Paul Shipman and Gordon Bowker opted to relocate the company to the old Fremont (Trolley) Car Barn in 1988. The 26,000-sf building expanded brewing capacity and included the Trolleyman pub.

As demand for microbrewed beer increased, the company built its 85,000-sf brewery in Woodinville in 1994 and later added a brewery in Portsmouth, N.H. With the existence of these new facilities, Redhook scaled back its Fremont operation.

Redhook went public in 1995 and is traded on the Nasdaq under the symbol HOOK. On Friday, Redhook was trading at $2.10, up from its 52-week low of $1.45 and down from its 52-week high of $3.35.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.