A downtown institution is headed to the West End after its building was swapped from one pair of brothers to another.
The Nick’s International Foods building at 400 W. Broad St. has sold for $1.1 million. The sale closed Thursday.
The 8,600-square-foot property was purchased by Eddie and Tony Huang, brothers and restaurateurs from Colonial Heights. The building most recently was assessed at $479,000.
Built in 1910, the structure also has four apartments on the upper levels. It has been in the family of co-owners and brothers Manuel Mouris and Philip Mourtzakis since 1987, and initially was listed in March 2016 for $1.05 million. It houses their deli and a Mediterranean goods wholesale distribution operation.
Broker Kerry Riley of Joyner Commercial represented the Huangs. Wilson Flohr of Porter Realty represented Nick’s.
Mouris said Nick’s will continue operating and is under contract for a new spot near the intersection of Malvern Avenue and West Broad Street. The deli will remain open at its current location for two to four months before moving west.
“We’re getting more warehouse space. We’ll still have the store and sell specialty Mediterranean foods,” Mouris said. He added they also plan to move into online sales once in the new location.
The business’ namesake, Mouris and Mourtzakis’ father Nick, immigrated to the U.S. from Greece in 1932. His deli has been a mainstay of Richmond since the 1950s. After initially opening on North Sixth Street, it moved to East Marshall Street before settling in its current location in the ’80s.
The Huangs would not comment on plans for the space.
The intersection of Monroe and Broad has seen action lately. Last month, TRJ Properties LLC purchased 309 N. Monroe St. and 322 W. Broad St., which sit across the street east of Nick’s.