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The Saucy Noodle restaurant on South University Boulevard is going out of business and employees are expected to be informed on Wednesday, July 27, 2022, in Denver, Colo. (Timothy Hurst/The Denver Gazette)

The Saucy Noodle, a fixture in the Bonnie Brae neighborhood, is closing after the building it calls home was sold to a new owner.

Erin Markham, co-owner of the traditional Italian restaurant, said the business is on a month-to-month lease. She said the new landlord’s terms to stay in the building were “not reasonable.”

The building in the 700 block of South University Boulevard has been for sale for two and a half years, Markham said.

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The Saucy Noodle restaurant on South University Boulevard is going out of business and employees are expected to be informed on Wednesday, July 27, 2022, in Denver, Colo. (Timothy Hurst/The Denver Gazette)

Two weeks ago, she and her husband were notified by email of the sale, she said.

BusinessDen reported that the building was bought for $2.2 million on July 15 by an entity affiliated with property developer Otto Petty, who is a co-founder of Endurance Real Estate Partners.

Attempts to reach Petty for comment were unsuccessful.

Markham said that on Monday, they were asked to leave by the end of August. She said the plan is to close the restaurant on Aug. 14 so they will have enough time to get everything out of the space.

Markham said their business simply hasn’t recovered from the pandemic. She said recovery is “years down the road, if at all.”

Markham said she and her husband have been looking for a new location they could buy to continue operating their business.

“We have not been able to find anything. We've worked with agents. We’ve looked on our own. My husband looks online every single day,” Markham said. “In order to go forward, it really makes sense for us to own a building, but this Denver market has made it utterly (impossible) for us.”

When they have found a space for sale, Markham said they have been outbid by buyers from out of state or someone making a cash offer.

Markham said she and her husband will likely take time off before deciding how to move forward, but she isn’t sure if it’s going to be in Denver. She said their customer base just hasn’t been the same in recent years and many people just drive by if they don’t find a place to park.

“Denver has not been, business wise, very kind to us — to small businesses, not just us,” Markham said. “The neighborhood has changed drastically. We don't have people walk in anymore.”

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