New company buys downtown Loveland block for $3M

LOVELAND — A new company formed by brewers and a real estate broker has purchased nearly an entire city block in downtown Loveland.

Brewer Nick Callaway, founder of Loveland Aleworks; his wife, Kari Klapper; and real estate agent Luke McFetridge of Level Real Estate are among the owners of Railyard West LLC.

The purchase in December included three parcels that comprise nearly an entire city block in downtown Loveland. BizWest map.

In late December, the new company bought the facility in which Loveland Aleworks operates along with properties south of the taproom for $3 million. The properties were owned by Ada M. Johnson Family Partnership Ltd. 

“I really like this area, and I thought if we ever got the chance, I wanted to buy the property,” Callaway told BizWest.

Properties included in the sale are 102-136 W. Fourth St., 305 N. Railroad Ave., and 330 N. Garfield Ave. The properties, mostly commercial, are bounded by Fourth and Third streets, and Railroad and Garfield avenues. Not included was 323 N. Railroad Ave., which is owned by Loveland Iron & Metals.

Railyard West has no specific plans for the properties. “We’re trying to put together a master plan for the block,” Callaway said. However it is used, “we want to promote the festive nature of the downtown and turn this block into a campus,” he said.

He said there are no plans to disrupt current tenants, which include a dog trainer, fabric reseller, print shop, dog wash and gym-equipment seller. 

Callaway said the new owners do want to put in extra bathrooms to support a beer garden to the south of the brewhouse. 

While breweries have struggled during the pandemic, Loveland Aleworks produced 6% more beer in 2020 than it did in 2019, Callaway said.

“We had to change the way we sell beer. It used to be that the taproom was our focus, plus selling to restaurants,” he said. Instead of that focus, the brewery ramped up canning.

Loveland Aleworks is the trade name for Illogicale Brewing Co. LLC. Level Real Estate is a trade name for Blue Sky RE LLC. Both Level Real Estate and Railyard West are registered at 315 E. Seventh St. in downtown Loveland.

© 2021 BizWest Media LLC

 

LOVELAND — A new company formed by brewers and a real estate broker has purchased nearly an entire city block in downtown Loveland.

Brewer Nick Callaway, founder of Loveland Aleworks; his wife, Kari Klapper; and real estate agent Luke McFetridge of Level Real Estate are among the owners of Railyard West LLC.

The purchase in December included three parcels that comprise nearly an entire city block in downtown Loveland. BizWest map.

In late December, the new company bought the facility in which Loveland Aleworks operates along with properties south of the taproom for $3 million. The properties were owned by Ada M. Johnson Family Partnership Ltd. 

“I really like this area, and I thought if we ever got the chance, I wanted to buy the property,” Callaway told BizWest.

Properties included in the sale are 102-136 W. Fourth St., 305 N. Railroad Ave., and 330 N. Garfield Ave. The properties, mostly commercial, are bounded by Fourth and Third streets, and Railroad and Garfield avenues. Not included was 323 N. Railroad Ave., which is owned by Loveland Iron & Metals.

Railyard West has no specific plans for the properties. “We’re trying to put together a master plan for the block,” Callaway said. However it is used, “we want to promote the festive nature of the downtown and turn this block into a campus,” he said.

He said there are no plans to disrupt current tenants, which include a…