Three restaurant transactions were reported by Patterson-Woods Commercial Properties/CORFAC International, Wilmington, with owners of Six Paupers and Ulysses restaurants snapping up a Sussex County site and the long-running Hunters Den gaining new owners.
Joe Latina, a principal with the firm, represented Lucey4, LLC & Ballyvourney, Inc. – aka Stephen B. Lucey & Michael C. Lucey in the purchase of a 5,400-square-foot restaurant building at 20859 Coastal Highway, Rehoboth Beach.
The seller was Captain’s Table Limited Partnership, Allan Lynch Rev Trust & Village Cupboard, Inc. Sales price was $1.9 million
The transaction included a second parcel with an approximately 6,912 square feet, two story building. The ground level is leased to a liquor store and the second story has three apartments.
The Lucey brothers are the owner/operators of Six Paupers Tavern & Restaurant in Hockessin and Ulysses American Gastropub Wilmington, DE. They plan to convert the restaurant building they acquired into a new gastropub concept named “The Forgotten Mile Alehouse,” which is a reference to the stretch of highway between Dewey Beach and Rehoboth Beach.
Separately, Jester & Sons, LLC sold Hunter’s Den Restaurant to Xia Zhao and/or Tian Cheng Development, LLC, of Wilmington for $960,000. The restaurant is comprised of 5,810 square feet on 1.85 acres of land located at 3517 Old Capitol Trail, Wilmington, in the Prices Corner area.
Also included in the sale is an adjacent two-story, 1,995-square-foot building, 3513 Old Capitol Trail, that is used for the business’s corporate operations. Latina and Mary Ann Heesters of Patterson-Woods represented the seller and procured the purchaser.
Hunter’s Den has been operating as a family-owned restaurant for more than 30 years. Hunter’s Den is known for its hunting theme and menu that included steaks and seafood. There are three dining rooms, a buffet area, and a lounge that frequently hosts live bands and entertainment. The new owners purchased the restaurant as an investment and plan to initially continue to operate the business as Hunter’s Denm according to a Patterson Woods release.
Latina also handled the lease for a restaurant at 59 E. Main Street in Newark, DE, to Asian investors that renovated the space and re-opened the restaurant as “Colorful Yan Nun.” The Chinese-food inspired restaurant has been an instant hit, particularly among the students at nearby University of Delaware, the release stated
Latina specializes in retail and investment commercial real estate with an 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.
