Minneapolis / St. Paul Business Journal reported last month that Keg and Case Market, 978 West 7th, has been repossessed by MidWestOne Bank from its original owner, Craig Cohen.
MidWestOne is now the owner of record on the property according to Ramsey County records.
The bank sued Cohen in April of this year for defaulting on over $5 million in outstanding loans. The Business Journal reported that Cohen entered into a voluntary foreclosure agreement on the property.
In their initial court filing, MidWestOne said that they were seeking foreclosure with the hope of recouping their outstanding debt through a sale of the property.
Keg and Case opened to much fanfare in 2018 with over 20 businesses, but was hit especially hard during the pandemic, losing several high profile tenats, and has failed to regain its original allure. One of its original tenants, Clutch Brewing Company, announced just before news broke of the foreclosure that it would be closing shop by the end of the year. Excluding Clutch, Keg and Case currently has five permanent occupants of the building, Five Watt Coffee, Pimento, Starcade, Sana CBD and Soapy Toads.
Despite the change in ownership, the market will continue to remain open and will be hosting weekend holiday markets through the end of the year.
Visit kegandcase.com for more on their current vendors and upcoming events.