photo courtesy of Northwest Wine Night
(WOODINVILLE) The most well-known estate in wine country appears to be for sale.
The listing comes from commercial real estate firm CBRE, advertising the 118 acres that make up Chateau Ste. Michelle. CBRE refers to the property as “flexibly zoned land” and “primed for redevelopment.”
The sale isn’t a shocker for wine insiders, who know that Chateau Ste. Michelle will consolidate all its production east of the Cascades starting with this year’s harvest. Previously, reds had been produced there, while whites were trucked over the mountains and made here.
The equity firm that owns the winery cautions this is in the very early stages, and that its considering all options right now.
But the sale could be very financially motivated. According to SEC filings, the company was losing money before the pandemic hit. And the virus and its subsequent closures and restrictions may be forcing profit-seekers to cash-in on the historic property.
The property’s owners say Summer 2022 will go on as normal, and planned concerts won’t be interrupted.