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Real Estate - Commercial

Historic Fourth Street Firehouse Sold For $1.1M

By Christina Haley O'Neal, posted Sep 1, 2017
The building at 604 N. Fourth St. sold for $1.1 million this month and has been slated to become Edward Teach Brewing.
The old fire station on North Fourth Street slated to become a new brewery has a new owner.

Edward Teach holdings LLC bought the property, 604 N. Fourth St., from Wilmington Firehouse LLC on Aug. 14 for $1.1 million, a county deed shows. David Gary Sholar is the registered agent of the company, according to secretary of state corporation documents.

Designed by prominent architect Henry L. Bonitz, the firehouse opened at the end of 1907. Now the building is being renovated for a new brewery in the Brooklyn Arts District.

John Hinnant, a commercial real estate broker with Maus, Warwick, Matthews and Co., represented Wilmington Firehouse LLC in the sale.

In 2014, Hinnant announced through a press release that S&S Brewery LLC, with principles Gary Sholar and Taylor Scism, had signed a long-term lease for the property with Wilmington Firehouse LLC.

Days after the announcement, Sholar and Scism said they were working to change the name to Edward Teach Brewing and added additional details about the future brewery. A call to Sholar for an update on the sale and project was not immediately returned Friday afternoon.
 
Hinnant said Friday the renovation project for the brewery is about 80 to 85 percent complete.

The brewery is part of a resolution on Wilmington City Council's consent agenda for the council's Sept. 5 meeting that would release a use restriction on the property. Consent agenda items are usually voted upon with limited or no discussion by the council.

The restriction, put in place in 2003 as part of a coordinated effort to revitalize North Fourth Street, dictated that the building could only be used for office or retail space, according to the city.

"The neighborhood has seen much positive revitalization in recent years and the current owner proposes a brewery for this space (formerly a city-owned building)," city officials said in an email. 

Passage of the resolution would allow that development to occur, city officials said. All other requirements and restrictions related to historic preservation and city land development regulations would remain.

Hinnant said the matter was brought to the city's attention several months ago, when an insurance company saw the issue as a deed restriction. He added that the old restriction "severely limits the use of the property.”

The entire building will be utilized by the brewery, he added.

“Retail is still in a nurture phase on North Fourth. And it’s important that we maintain the momentum that’s happening on North Fourth and the northside of downtown,” Hinnant said.

"Activation of this property will further contribute to the transition the northside of downtown is experiencing. Gary and his team have invested a tremendous amount of creativity and money into this property and I think it will be a true show piece to complement the great work already done and ongoing next door at the Brooklyn Arts Center," he added.

Staff writer Cece Nunn contributed to this report.

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