DePersia & Associates of Durham has announced the sale of Bald Head Island’s waterfront dining mecca, MoJo’s on the Harbor.
Neal DePersia, broker with DePersia & Associates, represented both the sellers, John and Andrea Pitera, and the buyers, David and Julie Showalter, in the transaction, which was finalized Tuesday.
DePersia, whose real estate company specializes in brokering sales for restaurants, bars and food service-related businesses, said the sale included both the business and its physical contents, as well as the property at 10 Marina Wynd.
“MoJo’s is really a diamond in the rough,” DePersia said. “The Piteras have done a great job in building it up over the years and are handing it off in very good shape.”
DePersia, in conjunction with Cape Fear Commercial Realty, also helped to broker another high-profile sale in the Wilmington area earlier this year, the sale of three of Ash Aziz’s restaurants, Boca Bay, Brasserie du Soleil and Osteria Cicchetti, to Urban Food Group of Raleigh.
DePersia said the Piteras have decided to retire and hand over their successful restaurant so they can travel the world and spend quality time with their family on the East Coast.
As anyone who has visited MoJo’s knows, it’s home to Brooke’s Wall, a collection of decorated dollar bills that cover the walls of the bar and restaurant. The collection began with the donation of a dollar from Brooke Williams, a man who would become a patron and friend of the Piteras.
Over time, the collection of bills has come to honor celebrations and milestones, as well as the memory of lost loved ones, including Brooke himself.
On Monday evening, the Piteras took down all the bills, which they often referred to as works of art.
The Piteras announced via Facebook on Tuesday that the bills in the collection equaled $19,461, all of which will be donated to Duke University’s pancreatic cancer research program.
According to DePersia, the Showalters plan to take the next several months to further analyze the business before rebranding the restaurant prior to the kickoff of the spring 2020 season.
For now, the restaurant will remain open under its current name and with current staff and management.
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