Wilmington, DE — Patterson-Woods Commercial Properties/CORFAC International announced the completion of the sale of a restaurant business located at 110 South West St. in Wilmington.
Progressive Growth, LLC, a local, family investment group with many diversified businesses, purchased the business, Firestone Roasting House Restaurant, for $1.275 million. The Seller, RFG Hospitality, LLC & RFG Restaurant Holdings LLC, also known as Rastelli Food Groups, is an industry leading food product supplier to hotels, restaurants and institutions.
Joe Latina, principal, and Mary Ann Heesters of Patterson-Woods represented the seller in this transaction, secured the lease assignment, and worked with the buyer in securing their liquor license. 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 obtaining and transferring liquor licenses in real estate transactions.
Firestone Roasting House, open since 2005, occupies the Juniper Building on the Riverfront in Wilmington, DE. It features an indoor dining area, large bar, and outdoor patio that sits right on the Christina River.
“It was a pleasure to complete this sale on behalf of Ray Rastelli, Rastelli Foods Group and Progressive Growth, LLC.,” said Latina, “We would like to thank all parties for the cooperation and professionalism. We wish Mr. Rastelli the best of luck and the continued growth of his company into one of the premier food distribution companies in the world and we look forward to the continued success and growth of Firestone Roasting House on the Wilmington Riverfront.”