MOMENTUM CASE STUDIES
THE GEORGE
Situated directly on the iconic Wilmington Riverwalk, The George Restaurant stood as one of downtown’s most sought-after waterfront dining destinations, combining refined cuisine with panoramic views of the Cape Fear River.
When owner George Coffin engaged MoMentum Companies to manage the confidential sale of both the restaurant and its prime riverfront property, broker Terry Espy leveraged her network of qualified buyers to secure a full-price, negotiation offer within days. The result was a seamless, two-month transaction that exceeded expectations — underscoring MoMentum’s proven expertise in high-value hospitality and real estate brokerage.
Location
Wilmington Riverwalk – Historic Downtown Wilmington, North Carolina
Real Estate
Upscale Waterfront Restaurant & Real Estate
Broker of Record
Terry Espy – MoMentum Companies
Representation
Both Seller and Buyer
Business Overview
The George Restaurant is an upscale dining establishment located directly on the Wilmington Riverwalk, offering unparalleled views of the Cape Fear River. As one of only five waterfront restaurants in Historic Downtown Wilmington, The George held a premier position within the region’s dining scene. The property included both the fully operational restaurant business and its prime riverfront real estate — a rare and highly desirable combination in this market.
Seller’s Objectives
Owner George Coffin engaged MoMentum Companies to represent both the business and real estate in a confidential sale. Mr. Coffin set an asking price of $2.6 million, reflecting the strength of the brand, location, and property value.
Sales Process
Once The George Restaurant was listed, broker Terry Espy immediately identified the ideal buyers — Edson Munakata and Freddie Lee — experienced restaurateurs who had already been pre-qualified and were actively searching for a high-end property with real estate ownership. Recognizing the property’s exceptional riverfront location and value, they moved decisively, placing the business and property under contract at the full asking price with no negotiation required.
MoMentum Companies managed every aspect of the transaction, from buyer–seller communication and lender coordination to inspections, due diligence, and closing logistics — ensuring an efficient, seamless process from start to finish.
Outcome
The deal closed just two months after listing, delivering a seamless path from introduction to closing. Results were outstanding for both sides: the seller achieved full asking price on an accelerated timeline, and the buyers acquired a premier riverfront restaurant with strong long-term potential. This transaction showcases MoMentum Companies’ ability to match qualified, motivated buyers with premium hospitality assets and manage every step for a smooth, high-value outcome.
Referral Contact
While MoMentum Companies’ listing agreements include a two-year confidentiality provision, many clients are happy to discuss their experience.
For a referral conversation, please contact:
Edson Munekata
📧 Edson@cowboybraziliansteakhouse.com
📞 803.394.9493
Terry Espy
Complete our contact form or call today to schedule an initial consultation.