Patterson-Woods Commercial Properties/CORFAC International Facilitates $950,000 Sale of a Restaurant Building in Wilmington, DE
Wilmington, DE (January 15, 2015) – Patterson-Woods Commercial Properties/CORFAC International, a leading full-service commercial real estate provider serving the Mid-Atlantic market, today announced the completion of the sale of a restaurant building located at 805 North Union Street in Wilmington, DE. The 4,575 square feet one-story building fronts Union Street 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."
About Patterson-Woods/CORFAC International
Patterson-Woods Commercial Properties / CORFAC International is a leading commercial real estate services firm specializing in the Mid-Atlantic commercial property markets. We have been providing the most complete selection of commercial real estate services to the communities of Delaware, Maryland and Pennsylvania for over 40 years. Patterson-Woods Commercial Properties is a second generation company well known for facilitating solutions to the needs of the business community and developers of real property. For more information on Patterson-Woods/CORFAC International, contact the company’s Wilmington, Delaware headquarters at 302-622-3500 or visit www.pattersonwoods.com.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International offers commercial real estate services with market reach in 48 countries worldwide. Founded in 1989, CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 400 million square feet of space valued in excess of $7.4 billion in 2014. For more information on the CORFAC network, visit www.corfac.com.
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