Stu News Newport is reporting that Balboa Island’s Sugar ‘N Spice is for sale.
Normally, when a business is for sale, the name of the business is not disclosed to potential buyers upfront. You’d see an ad saying something like “Historic Newport Beach Dessert Ice Cream and Dessert Shop for sale”. Potential buyers would see the business for sale ad, sign a non-disclosure agreement and then receive the name of the business. In most cases, sellers don’t want the general public to know about a potential sale (read our blog for more on that).
In this case, publishing the name of the business makes a ton of sense. First, this business is iconic and the name & history is going to be a big driver of the asking price. Second, from the Stu News article, this is a mixed use space, meaning there is restaurant + something else (like retail, office our housing). In this case, it sounds like there is some real property that is part of the sale.
In any case, this is a pretty interesting example of a scenario when a business seller would benefit from advertising the name of the business for sale. This is a well known business with a great location and long history – they will surely be getting tons of leads and traffic on this business for sale listing.
If you want to learn more about listing, the ultra hard working Annie Clougherty from Compass has the listing.
