Kelly's Roast Beef is closing its Allston operation at 1245 Commonwealth Ave. after a little more than a year there.

“We are obviously very disappointed with the closing of Kelly’s. We had high hopes for their success,” said Carl Valeri, president and chief operating officer of The Hamilton Company, which manages the building housing Kelly's in Allston.

“It would appear that the menu’s prices were ultimately too high. The owners of Kelly’s, as well as The Hamilton Company, invested a substantial amount of money into renovating and converting the location. Kelly’s will be actively marketing the space for rent and we are very hopeful that the space will provide a home to a successful business in early 2012,” Valeri said.