Report: Arcadia Brewing Facing Property Foreclosure
WWMT is reporting the Kalamazoo brewery Arcadia Brewing is facing property foreclosure on its site on East Michigan Avenue. The $7 million, 30,000-square-foot building is located on East Michigan Avenue in downtown Kalamazoo. It just opened four years ago, in 2014.
According to WWMT, over $1,400,000 is owed on the mortgage, and the same report says the property could be sold at foreclosure as early as December 20th.
This would be the second financial setback the brewer has faced in a little over a year. Arcadia closed it's downtown Battle Creek location in September of 2017.
Arcadia Brewing was originally founded by owner Tim Suprise in the early 1990's, and was going to be in the Globe Building in downtown Kalamazoo, currently where the Beer Exchange is located. After that deal fell through, Suprise ended up going to Battle Creek and working with city officials there. That is the facility that closed last year.
In a 2016 story in the Lansing State-Journal, it said
Early on, Suprise said Arcadia was a success — until it started running losses. It didn’t hurt that the Kellogg Co. headquarters were about a block away. As Kellogg cut Battle Creek-area jobs — roughly 480 in 1998 and another 550 with the closure of the South Plant in 1999 — Suprise said Arcadia boomed with going-away parties. Then, things got challenging. - Lansing State-Journal
However, Arcadia, this past October, opened an Arcadia Ales and Smokehouse location in Lansing after some delays.