The owner of the Rib Room, 1234 E. State Blvd., has sold the building that houses the restaurant to local real estate investors Matt, Kurt and Chris Henry, according to a statement Friday.
The restaurant, however, will continue operating under the same ownership, Rib Room owner Sam Filippou said.
“We had an opportunity to sell the real estate, but also to continue owning and operating the restaurant as we have for the past 55 years,” Filippou said in a statement. “It was the best of both worlds: The Henry brothers will do what they do best, which is buying and fixing up commercial buildings; and we'll continue doing what we do best, which is offering the best in fine dining.”
Matt Henry of Henry Brothers Real Estate said the investment with the building purchase and renovations, including new siding, will be just under $500,000, all private money.
The exterior of the building will undergo a significant renovation, as will the west side of the restaurant, known as the Family Room.
That area of the restaurant will be completely remodeled and renamed Nick's Martini & Wine Bar because the restaurant was once known as Nick's Rib Bar, and later as Nick & Von's Rib Room, named after Nick Stamanis and Von Filippou.
Nick and Von are both deceased; Von's son, Sam, took over in 1992.
Ontario court OKsWaterFurnace sale
WaterFurnace Renewable Energy Inc. of Fort Wayne this week received court approval on its deal to sale to a Swedish company.
NIBE Industrier AB offered about $350 million cash for all outstanding WaterFurnace shares, a 27 percent premium at the time the bargain was struck in June.
The Ontario Superior Court of Justice approved the plan. The companies needed the court's approval because WaterFurnace, which will continue to operate as a separate entity led by the company's current executives, is traded on the Toronto Stock Exchange.
Shareholders overwhelmingly approved the deal last week when they met in Fort Wayne.
Officials said the deal could result in 100 to 150 new jobs in the next five years in Fort Wayne and Goshen.
WaterFurnace makes geothermal heat pumps and is located at 9000 Conservation Way.
Existing-home sales drop 3% in July
Existing-home sales in the region decreased 3 percent in July, compared with the same period a year ago, according to data from the Upstate Alliance of Realtors.
The organization's website lists 762 homes selling last month, compared with 786 houses in July 2013. Upstate tracks data from Allen, Adams, DeKalb, Huntington, Noble, Wells and Whitley counties.
The average home sale price in July was $138,929, a 7.3 percent increase from July 2013.
Job Fair scheduled at National College
National College will host a job fair Tuesday at its 6131 N. Clinton St. location.
Ten to 15 employers will seek workers from 1 p.m. to 4 p.m. at the free event that also includes mock interview sessions and employment seminars.
For more information, call 483-1605.