Patterson-Woods/CORFAC Int’l facilitates $950,000 sale of a restaurant building in DE
WILMINGTON, DE — Patterson-Woods Commercial Properties/CORFAC International, a full-service commercial real estate provider serving the Mid-Atlantic market, announced the completion of the sale of a restaurant building located at 805 North Union St. in Wilmington. The 4,575 s/f one-story building fronts Union St. in the heart of Wilmington's "Little Italy."
The property was sold by T & M Properties & Union City Grill, LLC, a restaurant headed by Chef Matthew Curtis, to Bread & Butter, LLC, also known as Ashby Management Group for $950,000.
Joseph Latina, principal, and Mary Ann Heesters of Patterson-Woods represented both the seller and procured the purchaser. Latina specializes in retail and investment commercial real estate with a strong emphasis in the food and beverage sector. Heesters has a background in food and beverage, and specializes in issuing and transferring liquor licenses in real estate transactions.
Ashby Management plans to renovate the building and open a full-service, casual dining restaurant serving modern American cuisine with a Tai/Asian flare. The group has also opened and operates several other restaurants locally with great success, including three McGlynn's Pubs (Pike Creek, Bear & Dover), The Deerpark Tavern (Newark), and Cantwell's Tavern (Odessa).
"It was extremely gratifying to execute this transaction on behalf of two of our very valued clients," said Latina. "We wish Chef Matt Curtis the best of luck in his future endeavors and look forward to yet another successful Ashby Management restaurant."