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Schmidt Rathskeller building sold

The Minneapolis-St. Paul Business Journal reported last month that Schmidt Brewery’s Rathskeller building was sold for over $2 million to Molina Investment Group, a Minneapolis-based real estate firm.

The building was sold last year for $1.6 million in a foreclosure auction.

The new owner, Wilson Molina, is renegotiating leases with current tenants, which recently included an event space managed by Mancini’s, Patisserie 46, ROK Music Lounge and Bar,Rose Street Bakery and the West Seventh/Fort Road Federation, as well as potentially looking to add a Brazillian steakhouse to the 20,000-square-foot building, according to the Business Journal.

The buildings developer, Craig Cohen, recently filed for bankruptcy protection after defaulting on loans for the Schmidt Rathskeller and Keg and Case Market, which he also redeveloped. 

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