According to The Business Exchange LLC (TBX) of Hyannis, Hang Ten Inc. has acquired the restaurant and function facility known as d/b/a Old Jailhouse Tavern for $1.95 million.
Adam Bauer, principal of TBX represented the seller L.W. Hirst Associates, Inc. in the sale.
The property consists of 9,216 s/f on 3.56 acres of land centrally located. The property was an active Jailhouse in the turn of the 19th century and has been in the Hirst family since the early 80's.
The new operators will continue to operate as the Old Jailhouse Tavern and grow the function business to utilize the 5,500 s/f banquet hall.
Charles Desimone, senior vice president of the Bank of Cape Cod arranged the financing for the sale.
"Hang Ten Inc. has a local presence in the town of Orleans and this was an excellent acquisition for them to increase their exposure and grow their business model" said Bauer.