James Joyce investors look for tenant

Posted by Dan Whisenhunt November 5, 2014
A picture of the James Joyce Irish Pub from the CBRE marketing brochure.

A picture of the James Joyce Irish Pub from the CBRE marketing brochure.

This story has been updated. 

The new owners of the James Joyce Pub are actively seeking someone to rent or purchase the property.

A brochure provided by the Shumacher Group says the 4,593 square foot restaurant space is available to lease for $6,500 or for purchase starting at $870,000.

Tyler Edgarton of Raulet Property Partners and Steve Schwartz of Corporate Property Advisors teamed up to buy the former pub. Property records show that the investors bought the property out of bankruptcy for $500,000.

Edgarton, who is also a member of the investment group behind Mailing Avenue StageWorks, has notified the state Film Office that the James Joyce building is available as a filming location.

Property broker Peter Kruskamp told Decaturish that the owners would “prefer to lease” the James Joyce building.

“They see it as an investment property,” he said. “They’d like to get somebody that’s going to work with the community.”

It’s in a good location that’s poised for growth, Kruskamp said. But if someone has $6,500 to spend on rent, why not buy the building outright?

“We do all restaurant real estate,” Kruskamp said. “The problem we run into at times, people who want to open up restaurants or pubs don’t have a lot of cash on hand, a bank loan or a lot of expendable cash, so $6,500 is probably the going rate there.”

He provided this brochure for the property …

Avondale Flyer

About Dan Whisenhunt

Dan Whisenhunt is editor and publisher of Decaturish.com. https://www.linkedin.com/in/danwhisenhunt

View all posts by Dan Whisenhunt

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