CALL Us Today: (888) 995-9701 | Complete a CONFIDENTIALITY AGREEMENT NOW - CLICK HERE!

California's Largest Restaurant Brokerage - Specializing in Sales, Acquisitions & Leasing of Restaurants, Bars, Clubs & Related Commercial Buildings

SOLD – Lallapalooza, Monterey by the Sea

By in RRC Featured Done Deal

JUST SOLD
Lallapaloza
Monterey by the Sea 

Keith Simpson of Restaurant Realty Company recently sold Lallapalooza in beautiful Monterey.

In 1997, Pat Ottone purchased a 4,000 sq ft restaurant space located on Alvarado Street, downtown Monterey by the Sea. Lallapallooza restaurant was established and quickly became a local’s spot for the discerning clientele enjoying its cocktail bar, fine wine club and excellent food to include favorites such as wood fired Pizza’s, Homemade Burgers & specially-aged Ribeye steaks.
During the 2020 pandemic Pat chose to close the doors, initially temporary as his menu was not “To Go” friendly. After 8 months, Pat’s decision to sell the business with all equipment and hard liquor license was discussed with Keith Simpson of Restaurant Realty Co. An asset sale was agreed and within a month a qualified buyer was secured. Local restaurateurs Alex and Carlos Moncada, owners of another local’s restaurant, ‘El Charrito’ in Salinas were successful in purchasing Lallapalooza and escrow closed on August 3 rd 2021. After an extensive remodel the new owners intend on reopening in January 2022 as an upscale Mexican/American restaurant specializing in superb Cocktails from the front bar and a Ghost kitchen for their other restaurant.
Alex and Carlos have 2 more local restaurant purchases simmering in the background which they hope will close escrow in late October which should have a tremendous positive impact on the local community.
Share This