Print
Real Estate - Commercial

Locals Buy Historic Commercial Property Downtown

By Cece Nunn, posted Mar 4, 2020
The Old Wilmington City Market now belongs to Erik and Rachel Hemingway of Wilmington after they purchased it at the end of February. (Photo by Vicky Janowski)

Something new has come to Old Wilmington City Market: new owners.

An entity controlled by Wilmington residents, ER Quiver Family Limited Partnership, bought the historic property from City Market of Wilmington LLC for nearly $1.5 million, according to a deed recorded Tuesday.

The 14,700-square-foot market was built in the 1880s, according to its Loopnet.com listing. It has entrances on South Front Street and South Water Street and holds a number of retail tenants, including longtime occupants Barouke Exotic Woods Etc. and clothing store Ropa Etc. 

“We just like downtown and wanted to be a part of it,” said Erik Hemingway, one of the managing members of ER Quiver, referring to the purchase. 

Erik Hemingway and his wife, Rachel Hemingway, also own City Storage on North Fourth Street and City Storage South on South Front Street.

“Right now we're going to keep it [the market] as it is,” Erik Hemingway said, outside of some aesthetic changes that would have to go before the city's historic preservation panel. “We're talking to a few tenants that are looking at the space and seeing what could transpire -- there may be an additional restaurant or a distillery. Those are a couple ideas we're kicking around.”

Eric Knight and Ashley Whitley of Nest Realty represented the sellers of the market, while Eian Lundy of Carolina Commercial Investment Properties represented the Hemingways.

The purchase came with a vacant lot and a couple of vacant spaces inside the market. He said for a distillery or tenants in general, “I think that's an exciting spot, especially with tourist traffic off the Riverwalk.”

Of aesthetic changes, Erik Hemingway said, “We want to dress it up a little bit. We'd love to give it a little facelift and spice it up a little bit and get people to want to walk through there.”

Ico insights

INSIGHTS

SPONSORS' CONTENT
Drewsmith copiersplus headshot

How Printing Can Help Restaurants Bear Distancing Guidelines

Drew Smith - Copiers Plus
Michaelhiggins 41019104338

You’ve Lost A Loved One - What Now?

Michael Higgins - Dignity Memorial
Mike stonestreet 300x300

Online Meetings: When & How (Part 1 - Board Meetings)

Mike Stonestreet - CAMS (Community Association Management Services)

Trending News

Off The Hook Buys Bennett Brothers Yachts

Christina Haley O'Neal - Jun 29, 2020

Dollar General's Urban Market Concept, DGX, Among New Tenants For River Place

Cece Nunn - Jun 30, 2020

NHRMC's New Patient Tower Opens

Staff Reports - Jun 29, 2020

Potbelly Sandwich Shop To Open Next Week

Jessica Maurer - Jul 1, 2020

COVID-19 Prompts TekMountain Shift To Virtual Model For Startups

Johanna Cano - Jul 1, 2020

In The Current Issue

A New Way Of Work

Daily temperature checks and health screenings have become a regular part of the job for many employees heading back into the workplace....


Prompted To Make A Move

For some would-be home­buyers, particularly in large Northeastern cities in the U.S, the coronavirus pandemic helped them make up their mind...


Hospitality Workers Face Risk

Some service businesses are starting to rehire, but for those in the hospitality industry, numerous challenges remain....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`