T
om Secrist, the founder of Atomic Cowboy, has sold the restaurant and its neighboring office on East Colfax for $2.97 million. The sale includes the 3,200-square-foot restaurant and 2,500-square-foot office, which were purchased by Li H Xu as an investment. Secrist, who is 64 years old, plans to continue in the business but may focus more on fix-and-flip projects.

    Secrist bought the retail condo and house with a friend in July 2000 for $390,000. He rehabbed the space and built it out as a restaurant, which caught the attention of Robert Thompson, who later started Punch Bowl Social. Thompson initially ran Atomic Cowboy but was replaced by current CEO Drew Shader, who transformed the concept into a successful eatertainment brand with multiple locations.

    The sale is part of Secrist's effort to sell off his East Colfax portfolio. He has already sold another property this year and still has one on the market, listed for $550,000. A friend who co-owned the properties with Secrist 24 years ago will receive a significant payout from the sale, according to Secrist.

    Justin Brockman, a broker at Required Properties, listed the spaces in August and secured a buyer within a week. He notes that East Colfax is an insulated market with high demand from investors, making it an attractive time for property owners to sell.