Jefferson Inn Put Up for Sale
A historic Southern Pines inn has been put up for sale after nearly five years under its current ownership.
The Jefferson Inn on West New Hampshire Avenue in the historic district of downtown Southern Pines has been an area landmark for more than 100 years. It is the only hotel in the downtown area.
Owner Curtis Dean said that despite the Jefferson Inn's success, its operation has still been a challenge for him, which led him to put it on the market.
"Having no past hotel or restaurant experience, I never intended to operate the business myself," Dean said. "My relocation to Southern Pines and hands-on management was born out of necessity rather than a part of the master plan of the project. And the downturn in economic conditions and its toll on the hospitality industry has been no help."
The offering will include the building and the land, all rights to the hotel and food and beverage business, all furnishings, fixtures and equipment, and $1 million in historic tax credits, which will convey with the property.
Dean is working with brokers to establish a purchase price for the property, and expects that process to take a week or so. Until the property is officially listed for sale, Dean is personally fielding calls from potential investors and operators.
According to a press release, the building was constructed in 1901 as a winter home for a New Hampshire couple and was enlarged and converted into an inn within the next couple of years.
Since that time, it has seen numerous owners but has always played a significant role in downtown life in Southern Pines.
Dean, a commercial real estate broker and developer from Raleigh, acquired the property in 2005 after it had sat vacant for two years following a failed renovation attempt by the previous owners, a sister company of Gatelinx, owned by David and Annette Hagan.
The inn was in serious disrepair, but after 18 months working within guidelines set by the Southern Pines Historic Society, State Historic Preservation Office of the North Carolina Department of Cultural Resources and the National Park Service of the U.S. Department of the Interior, Dean completed a multi-million dollar historic restoration of the property, returning it to its grandeur of the early 1900s.
"The restoration represented a significant amount of work," Dean said.
All components of the building's electrical, plumbing, heating and cooling, and fire and life safety systems had to be replaced. In addition, the building was in desperate need of structural and roof repairs.
All of this work to the hotel's structure and building systems was not only performed while the guest rooms were being completely rebuilt and the restaurant and tavern were being restored, but also it was all completed in compliance with the governmental and quasi-governmental agencies' guidelines to maintain the project's eligibility for history tax credits at the state and federal level, the news release said.
The Jefferson now has 15 luxury guest rooms and one-bedroom suites. Dean says its is the only boutique hotel in the Sandhills and is aligned with the top boutique hotels in the nation.
Guest room features include cottage-style furniture; plantation shutters; at least one 32- or 42-inch flat screen television set; travertine clad baths with pedestal sinks and oversized walk-in showers with regular and rain showerheads; and bedding comprised of 600-thread count Egyptian cotton sheets and custom-made down-filed duvets and pillows.
In 2009, the inn was recognized in Cond Nast Johansen's Recommended Hotels, Inns Resorts and Spas in the Americas. Only nine properties in the state received the award.
It has an upscale restaurant, and its tavern and courtyard have proven to be popular night spots for residents and visitors alike.
Meanwhile, it's business as usual at the Jefferson. Hotel operations are in full swing, an expanded tavern menu is being served, and the popular courtyard offers live entertainment Wednesday through Saturday.
The inn is still available for events such as weddings, receptions, meetings, corporate outings and holiday functions.
Contact John Krahnert III at 693-2473 or by e-mail at email@example.com.
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