The future of the former Iron Hill Brewery & Restaurant on State Street is still up in the air seven months after the beloved regional craft beer chain filed for liquidation bankruptcy and abruptly shuttered all of its locations.
The 9,300-square-foot Media brewpub is now on the market for lease, joining a handful of other vacant Iron Hill properties scattered across Pennsylvania and New Jersey, reports Erin McCarthy for The Philadelphia Inquirer.
But at nearly $29,000 a month, the price tag is steep enough to price out most independent operators.
“With that kind of rent, it’s not going to be a mom-and-pop, its going to be a seasoned operator,” said listing agent Tim Henry of Waterford Realty. “I would like to bring in a big name.”
And he’s confident one is coming. Henry says he’s already fielding interest from Philadelphia restaurateurs eyeing a suburban move, and he believes the right tenant is closer than it might seem.
“It’s challenging,” Henry said, “but I know it’s a prime location. It’s going to go, and its going to be something good.”
The road ahead won’t be simple, though. Unlike the former Iron Hill in West Chester, where much of the brewery equipment was left intact for the next tenant, Media’s equipment was auctioned off during bankruptcy proceedings.
After 24 years as an Iron Hill location, the space is expected to need significant renovations before anyone can open their doors.
For more details on Iron Hill’s closures and revival efforts, click through to read the full reporting in The Philadelphia Inquirer.
_______
