MacKenzie Commercial Real Estate Services Selected to Sell The Wine Source in Hampden
Combination package goods, prepared foods and mini-grocery store founded in 1990 and has operated in current location in Baltimore City since 2001.
MacKenzie Commercial Real Estate Services, LLC has been selected to sell The Wine Source, a combination fine wine, beer and spirits, prepared foods, and specialty goods store that has operated in the Hampden neighborhood of Baltimore City since 2001. Located at 3601 Elm Avenue, owner David Wells recently unveiled his decision to retire and market the entire business as well as a freestanding retail building and adjacent parking lots MacKenzie’s Senior Vice Presidents and Principals Henry Deford and John Harrington, together with Vice President Tim Harrington are handling the requirement on behalf of the seller.
Wells, 70, acquired the concept when it was located at The Rotunda in 1990 and subsequently transformed the brand into one of the highest-performing beer, wine, and spirits stores in the greater Baltimore metropolitan region. The store includes a curated selection of premium, artisan cheeses, cured meat, fresh breads, and packaged goods, as well as a draft system for on-site tastings and off-site growlers.
“We’ve had a tremendous run, met wonderful customers I consider friends, and filled a niche with our premium selection of unique wine and food offerings, combined with a level of service that educated consumers and created an extremely strong and loyal following,” Wells explained. “I was thirty-four years old when I bought the business, and now is the right time to find a younger version of myself that is passionate about taking The Wine Source to the next generation of customers and capitalizing on the brand we have carefully and enthusiastically created.”
Wells added that the majority of current customers are a mix of regulars and walk-ins that presently live in Baltimore City and surrounding counties but, to realize the full potential of The Wine Source, a new operator should consider expanding engagement and interaction with its customers. This can be accomplished through a variety of methods including a monthly “wine club”, deliveries and on-line sales. A person that is tech savvy, a wine connoisseur, and an innovative entrepreneur familiar with modern marketing tactics that can best leverage the strengths of the store would be ideal, he added.
“This represents a rare opportunity to acquire a turnkey and well-established operation and initiate a new chapter in the history of this legacy brand, as well as acquire strategic real estate,” explained MacKenzie’s Henry Deford. “David Wells has been a long champion of the Hampden neighborhood and understands the significant role of The Wine Source so, when choosing the ownership group, it is important that the brand will endure and continue to serve the food and beverage needs of the Hampden community.”
MacKenzie Commercial Real Estate Services has attracted several restaurants and coffee houses on The Avenue including Catalog Coffee, Kandahar Afghan Kitchen and Urban Oyster and is actively involved with other requirements.
More than 240,000 people reside within a three-mile radius of The Wine Source, including more than 105,000 households with an average household income approaching $85,000. The daytime population within a three-mile radius is nearly 275,000.
“When standing in line at The Wine Source you are likely to see a diverse representation of Baltimore City and County, including young professionals and recent retirees ahead of you and a Hopkins student behind you,” added Hampden resident Tim Harrington. “Browsing around will be people from Roland Park, to Fells Point, to Pikesville. Hampden has been transformed in recent years to an area that attracts recent college graduates, young families and an older demographic interested in being walking distance from excellent restaurants and entertainment. The common element is discerning tastes in food and beverage and that is where The Wine Source really shines.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
