State liquor store re-auction totals $5.9 million. Live public auction was for license application rights for 18 state-run liquor stores statewide.
OLYMPIA – The Washington State Liquor Control Board (WSLCB) successfully re-auctioned the rights to apply for a spirits retail liquor license at 18 state-run liquor stores statewide. The sum of individual bids totaled $5.57 million, with rights awarded to 14 successful bidders.
“These bidders are here because they want to be part of what has been a very profitable business for the state,” said WSLCB Director of Business Enterprise Pat McLaughlin.
The WSLCB ran the auction to resell locations whose original winners had failed, for whatever reason, to complete the purchase process. During the online auction that ended April 20, the sum of the high bids for the 18 stores was approximately $4.6 million. At Thursday’s live public re-auction, the sale price of those locations to nearly $5.6 million. A six percent bidder premium will be added to each successful bid for a total of approximately $5.9 million. All bidders were required to post a $10,000 bid deposit to participate in the auction.
Successful bidders earned the exclusive right to apply for a liquor license at the current location within its current footprint. All state store properties are below the 10,000 square foot threshold established by the initiative. Successful bidders will need to secure a lease with the property landlord. If they are unable to secure a lease, they may re-sell their right or request an alternative location within a one-mile radius of the existing location.
Store # Location Previous Price Re-auction Price
- 002 Seattle-2nd and Seneca $275,100 $475,000
- 003 Tacoma-Central $252,100 $200,000
- 006 Marysville $203,100 $235,000
- 032 Enumclaw $259,100 $310,000
- 042 Seattle-Broadway $255,801 $365,000
- 044 Spokane-East Sprague $200,100 $165,000
- 066 Kent-Panther Lake $141,100 $320,000
- 082 Kent-Midway Crossing $269,100 $325,000
- 085 Bellevue-Kelsey Crossroads $136,000 $245,000
- 093 Kenmore $270,900 $225,000
- 113 Seattle-Wallingford $300,100 $355,000
- 122 Tacoma-72nd and Pacific $750,100 $550,000
- 140 Bellingham $305,100 $405,000
- 151 Ocean Shores $205,000 $275,000
- 159 Kennewick-Columbia Summit $295,100 $290,000
- 168 Vancouver $266,300 $275,000
- 179 North Bend $275,300 $235,000
- 132 Lakewood $65,200 $320,000
The live auction was hosted at the Washington State Liquor Control Board Distribution Center and conducted by Stokes Auction which is located in Port Orchard.
The Washington State Liquor Control Board’s mission is to contribute to the safety and financial stability of our communities by ensuring the responsible sale, and preventing the misuse of, alcohol and tobacco. The WSLCB returned $425.7 million in Fiscal Year 2011 to fund essential state and local services.