Home > Uncategorized > Otto’s owners (finally) cook up retirement plan

Otto’s owners (finally) cook up retirement plan

To be Scraped in JulyLocal Developer poised to demolish well known eater, construct retail center.

Houston Business Journal

The Otto’s era may finally be coming to an end.

Two years after the owners of Otto’s Bar B Que & Hamburgers tried their hardest to sell the building in order to retire, a buyer has been found for the iconic 58-year-old restaurant that has catered to high-profile patrons, such as former President George H.W. Bush.

Ponderosa Land Development Co. has a contract to buy the Memorial Drive site for redevelopment in a deal set to close in May, with construction of a new 22,000-square-foot retail/office center to begin in July.

Otto’s owners, June and Marcus Sofka, quietly closed the BBQ portion of the restaurant in January. The adjacent hamburger joint could shut down as early as April 24.

Posted via web from Lester Langdon’s Real Estate Blog

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