Downtown Wilmington’s Reel Cafe building sold to restaurant owners

WILMINGTON, NC (WWAY) — The owners of Reel Cafe have purchased the downtown Wilmington building that has housed the longtime restaurant for more than 25 years, along with the neighboring property occupied by Wilmington Distillery.

According to Thorpe Commercial Real Estate and DePersia & Associates, Ray Jenkins and John Cordell, owners of Reel Cafe, purchased the building at 100 S. Front St. and the adjacent property at 12 Dock St.

The real estate firms said both Reel Cafe and Wilmington Distillery are expected to continue operating without changes following the sale.

Reel Cafe first opened in downtown Wilmington in 1998 and has become a longtime fixture in the city’s restaurant and entertainment district.

Neal DePersia of DePersia & Associates, working with Thorpe Commercial Real Estate, represented the sellers in the transaction. Steve Hall of Blue Coast Commercial represented the buyers.

“Reel Cafe has been part of downtown Wilmington’s restaurant and nightlife scene for more than 25 years, and this transaction keeps the properties in the hands of local operators who understand their history and importance,” DePersia said in a news release.

Financial terms of the sale were not disclosed.

The transaction also includes the property occupied by Wilmington Distillery, which the firms said will continue operating under its current ownership.

The sale follows several other recent hospitality-related commercial real estate transactions involving Thorpe Commercial Real Estate and DePersia & Associates in the Wilmington area.