SOLD – Lallapalooza, Monterey by the Sea

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.