Boogaloo, the restaurant in downtown Maplewood that serves a twist on Cuban, creole and Caribbean food, is up for sale. It was an ad on Craigslist seeking a buyer of the restaurant that tipped The Scoop off (the ad has since been removed from the site but we have been told it should be up again soon).
Rick Wilhelm, the real estate broker handling the sale of the business located at 7344 Manchester Road, stated that Boogaloo, which opened approximately five years ago, is successful but that restaurateurs Charlie Downs and Mike Johnson, along with their six other partners, are ready to hang it up.
One major reason for the sale: Downs, who has 30 percent controlling interest, faces heath problems and is busy operating his other restaurants including Cyrano’s in Webster Groves and two Imo’s Pizza establishments. Downs also volunteers his time to various activities, including serving as a board member of the newly instituted Webster Groves Farmers Market.
While Downs admitted that the business has had some trouble in recent years (the restaurant lost 20 percent of its business during the year and a half Highway 40 was closed, he said), he insisted that the restaurant has no bank debt and is not failing. Wilhelm noted that in 2006, before the economic crisis hit, the 3,500-square-foot restaurant reached a peak gross of $1.5 million. To continue with that level of success, Wilhelm said, “It needs a guy who is an owner-occupant that will work the district doing what Charlie does in Webster.”
Those interested can call Wilhelm at 314.965.1101 or e-mail him. Have scoop on restaurants opening, closing or changing their menu in the St. Louis area? Email us at Scoop@saucemagazine.com.
This article appears in Sep 1-30, 2010.