Property in Waukee that includes the building that houses the financially troubled Kinship Brewing Co. is being marketed for sale or lease at a time when an increasing number of taprooms are closing.

But Riley Hogan, a senior vice president with CBRE Inc., which is marketing the site, said the property can be used for more than a brewery or taproom.

“This property has lots of different opportunities for large, outdoor flexible spaces,” Hogan said. “It’s next to the [Raccoon River Valley Trail]. It has a large dog park. There’s a large outdoor plaza.”

Undeveloped space around the brewery could be developed into pickleball courts, and one or more of the courts could be put inside the facility, Hogan said. An indoor area for dogs could also be added, he said.

“The ‘eatertainment’ concept is growing rapidly, and this property allows someone to step in and skip working for two or more years with an architect, construction company and city,” Hogan said. “[A potential buyer] has an opportunity to get their product to the marketplace quickly.”

Kinship Brewing Co., whose development costs were estimated at $6.5 million, was built on about 6 acres at 255 N.W. Sunrise Drive. The brewery opened on Jan. 1, 2021, as the pandemic was starting to wane. Less than two years after opening, the property was in foreclosure. Court filings show several missed payments to Lincoln Savings Bank, the mortgage holder.

A recent court filing indicated an agreement was reached last week between Zach Dobeck, Kinship Brewing’s owner, and Lincoln Savings Bank. Details of the agreement are not yet public.

Dobeck opened Kinship Brewing during a time of economic decline and when people were continuing to stay home to avoid exposure to COVID.

Nationally, many small craft breweries and taprooms struggled to recover from the effects of the pandemic, according to the Brewers Association’s 2022 report. Production lagged behind 2019, when 26.3 million barrels of beer was produced. Also, 178 breweries closed in 2022, up from the previous year, according to the association. Information for 2023 is not yet available.

The economy might continue to play a role in the future of the Kinship site, Hogan said. Interest rates for loans remain higher than they were two years ago, and this year’s presidential election is causing economic uncertainty, he said.

Still, Hogan said, “I think we’re hitting the marketplace at a good time.”

The northwest section of Waukee is rapidly growing with the addition of dozens of new housing units, school facilities and a city park. In addition, the extension of 10th Street north of Hickman Road is complete, he said.

“People can really see what is going on there and the amount of money that’s been invested by both the city and schools,” Hogan said. “While our goal is to obviously target breweries, there is also a lot of interest from restaurants that want to get into this corridor. Those restaurants are always looking for opportunities to distinguish themselves from the standard strip mall development.”

An asking price for the property was not available.