The property was on the market for 10 days before going under contract and closing in mid-December, according to an ECCRE news release.
Southern Hospitality Company sold 5023 Market St., formerly the Old Chicago restaurant, for $1.065 million to HHG2 LLC in October. The property will have a different use other than a restaurant, said Arizona-based Brent Roberts of HHG2 LLC.
"We work with a lot of health care-related groups so more than likely it's going to be health care that's in there," Roberts said.
Roberts also said, "We just love the location and we really enjoy North Carolina as a whole so that’s why we thought it would be a great property."
Hansen Matthews, partner in Wilmington-based commercial real estate firm Maus, Warwick, Matthews & Co., represented Southern Hospitality Company in the transaction.
Matthews said 2018 "will mark the year when you're going to begin to see more redevelopment of Market Street properties, where you're either taking buildings that have been built for one use and changing them over into another use or you're going to see properties that are razed and completely redeveloped. It's going to be an interesting time and it bodes well for the entire corridor."
YMCA Eyes Growth With Plans For New, Expanded Facilities
Emma Dill
-
Apr 23, 2024
|
|
Burns, Redenbaugh Promoted At Coastal Horizons
Staff Reports
-
Apr 23, 2024
|
|
Cold Storage Developer Sets Near-port Facility Completion Date
Audrey Elsberry
-
Apr 24, 2024
|
|
Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm
Audrey Elsberry
-
Apr 24, 2024
|
|
Krug Joins Infinity Acupuncture
Staff Reports
-
Apr 23, 2024
|
“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...
Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.