Windmill Market Sale
In the decision to release proprietorship of Windmill Market (an iconic gathering place in downtown Fairhope, Alabama), former owners Mac and Gina Walcott sought out Jeremy Friedman, Broker of Katapult Properties, to facilitate the sale of this special piece of real estate. The Walcott’s and Friedman’s relationship spans all the way back to when Windmill Market was first built in 2009. At that time, Friedman’s construction company was hired by the Walcotts to build Windmill Market for their family. Nine years later, Friedman’s history and familiarity with the market provided him the opportunity to help this property evolve again.
The History
Beginning as an open-air arts, crafts, and farmer’s market, Mac and Gina Walcott have advanced Windmill Market’s business with the addition of restaurant tenants, such as Mary Ann’s Deli and the most recent addition: Ox Kitchen. It has also developed into a gathering place where resident artists and craftsmen can sell their products. Because of the ongoing business of current Windmill Market tenants, Mac and Gina Walcott requested that the offering be confidential. They also desired that the new buyer have certain ideals to continue Windmill’s tradition of benefitting the local community.
The Sale
Through Katapult’s broad database of investors and Friedman’s one-on-one marketing, Friedman was able to quietly get the word out. He generated multiple offers and worked with Jaime Lyon Cooper of Exit Realty Lyon to secure a buyer with the right ideals for the property. Committed to the well-being of Fairhope, Wells and Elizabeth Hammock have run a successful pediatric dental practice, Bay Pediatric Dentistry, for the past 12.5 years. Additionally, Elizabeth was raised in an entrepreneurial family and has a business and finance background. Their desire in purchasing the market property is to capitalize on their skills and invest in the community they cherish.
Future Plans
“We are in the process of formalizing our vision for the future. Broadly, the venue will remain a family-friendly, indoor-outdoor space that features food, drink and entertainment,” said Elizabeth Hammock. “We hope to complete our renovations and launch our re-brand in early Fall. Ox Kitchen and Mary Ann’s Deli will remain open throughout the renovation process and beyond.”
“I am excited to witness this next evolution of the Windmill Market and am proud to have played a part in it,” said Jeremy Friedman. “The Hammocks, with their commitment to Fairhope, are the perfect owners for this local icon.” And if Friedman’s involvement from the beginning of Windmill Market to its recent sale through Katapult Properties is not enough of a complete story, the Walcotts will also have the opportunity to bring their contributions full-circle as their architecture firm, Walcott Adams Verneuille Architects, is the contracted architecture firm for the new renovations of this building. “Our business partner, Ryan Baker of WAV Architects, is already beginning work on the design,” said Mac Walcott. “We are glad that our firm can continue to play a part in the evolution of this special place.”
