Wednesday, November 18, 2009

The Border Bar Near DU "For Sale"

Looking for a little excitement in your life? Have we got a deal for you. Buy the world famous Border Restaurant & Bar near DU for pennies on the dollar. (Read the entire article in DU Today.com)

The 30-day suspension for a liquor law violation that closed The Border Restaurant and Lounge expires Nov. 18, but the business’ owner is hoping the familiar watering hole near DU doesn’t have to reopen.

The goal is to sell the business, says listing agent Shawn Sanborn of Sanborn & Co., which specializes in restaurants, hotels, bars and liquor stores.

Border owner REM Capital Corp. of Parker, Colo., is seeking $195,000 for the bar and kitchen equipment in its 3,886-square-foot location at 2014 S. University Blvd. The business is tucked into the elbow of a 1960s-era wing of businesses that include Subway, Jason’s Thai and Floyd’s Barbershop.

REM’s decision to sell is part of a formal agreement the corporation reached with the city and county of Denver. It came after The Border was accused of selling alcohol to an underage individual during an undercover police operation in July, according to Assistant City Attorney John Poley (JD ’85). It was The Border’s fourth violation since Feb. 12, 2006, Poley says.

“Every graduate and undergraduate who ever thought he wanted to be in the bar business is calling me,” Sanborn says. “On a slow day, I get from three to six or eight calls from students.”

Sanborn says REM has a “good long-term lease” to go with its equipment, a location in “one of the best bar and restaurant markets in Denver,” and a hotel-restaurant-class-dance-cabaret liquor license that is “difficult to get” and transferrable.

12 comments:

Aluuum said...

We should send in Boone to buy it.

Anonymous said...

The Border serving underage individuals. Heavens! Sounds like someone forgot to send the pay-off money at some point. New owners can't make the same mistake :)

Anonymous said...

Shame on the DPD. Now where will a hard working 17 year-old go to get a drink?

Anonymous said...

I hope the Border never loses it's place as the bar training grounds for minors.

$5.00 pitchers for all kids with driver's permits!

puck swami said...

The $200,000K price is a steal for that place. With the right people running it, that place can easily do a million or two in sales a year.

dggoddard said...

I'm not so sure its a viable business in this day and age. The only way they were able to attract customers lately was with ridiculous drink specials which brings in the alkies & the riff-raff.

Serving underage customers is a sure fire way to lose the liquor license.

Wait for it to go into bankruptcy and by the license for 5 grand and sign a new cheaper lease.

Anonymous said...

2 mil is sales? maybe. but the parking sucks.

puck swami said...

In this day and age, when a DUI costs you about $10,000 and is a major life hassle, 90% of the people drinking at the Border should be walking there, which is why parking is less important.

If it were me, I'd institute a DU connected door policy, where you would need to show some kind of DU connection (current DU ID, alumni card, guest of DU, sports ticket stub, etc) to clear out the alkies and non-DU riff raff. Maybe you even could sell memberships...

dggoddard said...

Jordan's has made the Border redundant. Its clean, bright, classy w/ good food. Its also pricey and so far as I can tell strict on carding.

I think someone will take another shot at running the Border, but its a risky bet in my book.

Trev said...

A bar without alkies?

Blasphemy!

Anonymous said...

DG-Time to get some investors together to open the Boonetown Tavern-Bagman

dggoddard said...

That would be funny.

A huge "Vegas-style Neon" Boonetown sign on Evans greeting the Chancellor as he drove to work each morning.:-)