“Yes . . . surprisingly enough,” says Transitions Group owner Bill Jackson. “Someone else wants it worse than we do.”
“We never had any intent of buying it to sell it,” Jackson says. “We love the building and love the community along there.”
Jackson says he understands the buyer wants the building’s first floor space fronting Douglas for a showroom and then will use third floor space for offices.
It looks like Joe Hayes is buying the building for his Open Road Brands business, which creates reproductions of nostalgic signs and other Americana memorabilia.
Hayes didn’t return calls for comment.
The deal closed on Wednesday.
“They are on a real fast track,” Jackson says.
“I know … they’ve really had a keen interest in the Douglas Design District.”
That was part of the interest of Jackson’s group as well.
“I personally think that’s one of the nicer buildings that’s probably not already taken for the long term by someone,” Jackson says. “We were really proud of the building.”
The first portion of the building was built in 1915. There was an addition in 1930.
Jackson says he and his partners had a lot of cool things planned for the building.
“Our cash flow was just low enough that we weren’t going to be able to do a lot of those things for the next year or two at least.”
Jackson is hopeful that the new owner may be able to do some of those things.
“We just feel that these people will take good care of the building.”