Portfolio includes separate two- and four-story buildings containing approximately 15,000 square feet
FREDERICK, Md., Jan. 8, 2025 /PRNewswire-PRWeb/ -- Several months following the passing of restaurateur Kimball "Kim" Firestone, and the subsequent closing of the restaurant he founded in the City of Frederick, an affiliated successor group of Firestone's Culinary Tavern has placed the buildings on the market for sale. Located at 105-115 N. Market Street, the portfolio includes separate two- and four-story buildings containing approximately 15,000 square feet of which also housed Sidecar Bar and Market on Market, respectively a cocktail bar and a boutique market and wine shop. The successor group, the Wasley Family, operated Firestone's Culinary Tavern for many years alongside Firestone. The Wasleys, determined to see that the legacy of the restaurant and buildings are carried on by the next operators, have selected a specialized Food & Beverage team within MacKenzie Retail to handle the disposition with Henry Deford, Tim Harrington, and Corey Caputo handling the assignment.
The sale includes 105-107 N. Market Street, a four-story building comprised of approximately 12,200 square feet of space; 113-115 N. Market Street, a two-story structure consisting of more than 2,500 square feet of space; and all assets associated with the operation of the restaurant and retail component including kitchen equipment, furniture, and related fixtures. Two newly renovated residential units provide the opportunity for additional income, according to MacKenzie. Additionally, three unimproved floors above the street level restaurants offer untapped value for a variety of uses such as expanding the restaurant dining areas, creating space for private parties, or establishing a live entertainment component. These unused levels allow for a straightforward and adaptable re-use by the next ownership group.
Kim Firestone, a former executive of the Firestone Tire and Rubber Company, chose Frederick to pursue his culinary passions following a stint working for the United States government in Washington, D.C. Formerly known as Donnelly's, Firestone transformed the restaurant into a popular gathering place featuring creative breakfast, lunch, and dinner entrées and a full-service bar. In 2015, Firestone's Sidecar Bar evolved into an upscale cocktail and whiskey bar, incorporating ingredients and a menu inspired by the main restaurant.
The restaurant group grew to more than 60 employees at its height, including Kathy Wasley and her four children. "Firestone's Culinary Tavern quickly became the central gathering spot for Frederick residents, laughter always filled the air and, behind the scenes, it operated with a family environment," Kathy Wasley said. "Everyone is rooting for a new ownership group that can capture that same magic."
"Downtown Frederick remains a highly popular and energetic area, with its restaurants and shops attracting regular customers from a large radius including Washington, D.C. and Baltimore," explained MacKenzie's Deford. "In recent years, we have witnessed many Washingtonians seeking a slower-paced lifestyle, less congestion, and a reduced cost of living by relocating to suburban Maryland including Frederick County. Remote work arrangements enabled them to stay in the area, to the benefit of the local food and beverage scene."
"The Wasleys are seeking a buyer that recognizes the important role Firestone's Culinary Tavern played in Frederick for many years, and one who has interest in establishing a new concept that can carry on its legacy," added MacKenzie's Harrington. "This represents a rare opportunity to acquire a second-generation restaurant in the heart of the historic Downtown and initiate a new chapter in the history of this legacy brand, as well as acquire strategic real estate that provides potential for multiple income streams."
MacKenzie Retail is one of the real estate brokerage arms of The MacKenzie Companies, which operates five full-service divisions addressing all real estate asset classes including MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, and MacKenzie Investment Group. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit http://www.mackenziecommercial.com
Media Contact
Larry Lichtenauer, Lawrence Howard & Associates, Inc., 410.627.2675, [email protected], www.mackenziecommercial.com
SOURCE Lawrence Howard & Associates, Inc.
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