A restaurant space in the heart of downtown Denver has a new owner, one who paid less than the original asking price.

Located near the Colorado Convention Center and revamped 16th Street, 1437 California St. sold Monday for $1.8M, about $700K below the asking price, according to marketing materials from NAI Shames Makovsky.

The sale comes as downtown Denver continues to recover from the pandemic and as restaurants face increasing affordability and regulatory constraints.

The two-story building was purchased by a Denver-based LLC tied to Amnon Ben Ari, according to Denver property records.

The property housed Bubba Gump Shrimp Co., a restaurant inspired by the film Forrest Gump, from 2007 to November 2025 and has sat vacant since. This was the eatery’s last Colorado location, according to Westword.

Built in 1970, the building spans approximately 12.5K SF and has an additional 6K SF basement, according to the marketing materials.

The property was sold by Littleton-based Cherne Investment Co. LLP, an entity tied to the late Howard Cherne, who died in 2008, and currently managed by Kent Cherne. The LLP has owned the property since at least 1988, property records show.

Howard Cherne was known for his work in the commercial construction industry, including the original Skyline Park in downtown Denver, The Cooper Theatres, Denver metro K-Marts, and remodeling and additions at Red Rocks Amphitheater, according to his obituary.

NAI Shames Makovsky’s Dorit Fischer, Hayden Hirschfeld and Evan Makovsky represented Cherne Investment Co. in the transaction.

Fischer told Bisnow the new owner is a bar and restaurant operator who hopes to open at 1437 California St. in about six months. The previous owner was granted a certificate of demolition eligibility through the city of Denver in October. The certificate expires in October 2030, city documents show.