Investment firm to buy Wrightsville Beach landmark Blockade Runner Beach Resort

The longtime relatives-owned Blockade Runner Beach front Vacation resort is getting marketed, officials introduced Monday. 

Castle Peak Holdings, a hospitality financial investment and progress organization, is buying the 151-place Wrightsville Beach front lodge at 275 Waynick Blvd. from Mary Baggett and her brother Monthly bill Baggett, in accordance to a information release. 

The phrases of the deal were being not disclosed in the release.  

“For us, it is the ideal time for our family members to stage absent, and fortuitously we have located the proper team to keep on the legacy we have constructed,” co-operator Mary Baggett said in the release. “We have no question in their  promise to deliver an unforgettable knowledge for our company, as nicely as the dedication to continuing our resort’s emphasis on sustainability, conservancy and getting aspect of the cloth of the Wrightsville Beach front local community.” 

Lawrence Lewis Jr. opened Blockade Runner on the former internet site of Ocean Terrace Hotel in 1964. Joseph Baggett, of Fayetteville, obtained the beachfront resort in 1971, and it remained in the household up right up until the latest acquisition. In September 2018, Hurricane Florence hit the location challenging, badly harming the resort’s 12 roofs and ruining quite a few of its walls and flooring.

“Every factor of the residence was impacted by the wind and 44 inches of rain,” explained Mary Baggett, in a Bigger Wilmington Company Journal tale in 2019. “Ahead of the storm, we ended up anxious about flooding, so we moved anything upstairs – desktops, equipment – so all that got broken when the roofs went.”

Fortunately, the Blockade Runner was insured. The lodge was ready to recuperate from close to $10 million in injury and reopened starting up in February 2019.

The new entrepreneurs are preparing a phased renovation “to increase the knowledge for equally overnight guests and Wrightsville Beach locals,” the launch stated.

In accordance to the launch, Castle Peak Holdings was launched by two friends, traders and entrepreneurs Ben Weinberg and Mike Weiss.

“Very last 12 months, Castle Peak released a dedicated investment system concentrated on attaining, renovating and repositioning inns in iconic out of doors places across the place,” the release said.

The Blockade Runner, according to the launch, is “a single of the number of resorts on the East Coastline with beach front obtain on equally the ocean and seem, providing unobstructed water sights from each and every guestroom.”

“The Blockade Runner has been the backdrop for many memories for generations of households, a legacy that would not be probable with out the Baggett loved ones and the committed employees that function tirelessly to give a memorable visitor practical experience,” claimed Weiss, who is co-founder and co-CEO of Castle Peak alongside with Weinberg. 

Weinberg added in the launch, “We choose that critically and search forward to becoming the stewards of their legacy and crafting the following chapter in the property’s story.”