Loading
BUYER: Dutchman Hospitality Group Inc., Walnut Creek, Ohio
SELLER: Troyer Corp.
PROPERTY: 222, 1038, 1050 and 1030 Herndon Place, 3739 Gardenia St., 3737 and 3713 and 3667 Bahia Vista and 1038, 1035 and 1010 Love Ave., Sarasota
PRICE: $5.19 million
PREVIOUS PRICE: $1.93 million, January 1998; $490,000, March 1991 and $115,000, March 2009
LAW FIRM ON DEED: Icard, Merrill Cullis Timm Furen & Ginsburg PA, Sarasota
PLANS, DESCRIPTION: Walnut Creek, Ohio-based Dutchman Hospitality Group closed on its purchase of the Troyer's Dutch Heritage restaurant, a 19,392-square-foot retail strip center, a smaller retail building, three homes and additional land for $5.19 million.
The 34,742-square-foot restaurant building was developed in 1999 as a Der Dutchman. It was renamed in 2001 after the family that owned it divided the Amish/ Mennonite-cooking restaurants between Troyer Corp. and Dutchman Hospitality Group. Troyer Corp. received ownership of the Sarasota restaurant and a restaurant in Bellville, Ohio.
The real estate and business sale is expected to have almost no impact on restaurant operations except for a name change back to Der Dutchman. Troyer's Dutch Heritage employs 250 people.
“It is beautiful facility originally built by our company,” Vicki VanNatta, marketing coordinator for Dutchman Hospitality Group told the Business Review in March. “While by law all of the employees' jobs will end when the sale goes through for things like workers compensation, they will be given the opportunity to reapply. We are not one of those companies that goes in planning to clean house.”
The new owner has no plans to develop a previously proposed inn on another portion of the property.
Dutchman Hospitality Group also purchased the Bellville, Ohio, restaurant. Following the integration of the two restaurants, the Dutchman Hospitality Group will have more than 800 to about 1,200 employees and seven restaurants.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
