Less than a year after opening in a growing Wilmington district, a bar has gone from renter to owner.
Bowstring Burgers and Brewyard, located in the heart of Wilmington’s Soda Pop District, finalized a purchase of its 9,000-square-foot building and real estate on Monday.
Located at 1002 Princess St., the purchase totaled $2.8 million, according to a news release from Matt Golden, co-owner of the pub. Since the initial lease was signed in May 2022, around $1.5 million has been invested into improvements.
“The purchase…marks a significant milestone for the establishment and its dedicated owners, Matt Golden, Ben Yannessa, and Brad Bowles,” Golden said in the release.
Bowstring Burgers and Brewyard originally opened in Wilmington in July of 2023, expanding beyond the company’s initial location in Raleigh. The location acts as an event space and live music venue for local artists, businesses and residents within the Wilmington community.
More:Wilmington’s Soda Pop District is thriving. Here’s a look at what’s ahead.
“Bowstring has become a cornerstone of the community, drawing in patrons with a full kitchen, diverse selection of local draft beers and cocktails, and dynamic live music performances,” Golden said in the release. “The venue has thrived thanks to the unwavering support of its loyal customers and the success of sold-out shows featuring regional and nationally touring music acts.”
The neighborhood bar and live music venue currently employs 25 full-time and part-time staff at the Wilmington location.
The recent purchase was made possible through the SBA 594 small business lending program and a collaboration between First National Bank and Carolina Business Capital.
“The acquisition underscores the owners’ long-term commitment to the vibrant city of Wilmington and its residents,” Golden said in the release. “The owners express their gratitude to the Wilmington community for its continued support” and “look forward to welcoming patrons old and new to experience the enhanced offerings and immersive entertainment that define the Bowstring experience.”
Read More:Bowstring Burgers and Brewyard in Wilmington, NC buys its building
2024-03-24 17:05:42
