Greg Overbeck, one of the owners and marketing director for the restaurant group, explained that the company owns the almost 10,000-square-foot building at the corner of West Jones Street and Glenwood Avenue. The owners are “in negotiations with someone for the space,” Overbeck said.
The company, which also owns Spanky’s, Squids, 411 West, Mez and Page Road Grill restaurants, bought the building in 1994 for $380,000. Wake County property records now list the property’s assessed value as $2.4 million.
“As sad as it is to close one of our babies, we bought this property for just this reason,” Overbeck said Monday.
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Overbeck added: “I want to thank all of our customers who have supported us for so long.”
When 518 West first opened its doors in 1996, in the middle of a six-block stretch of Glenwood Avenue between Hillsborough Street and Peace Street, the term “Glenwood South” was still little more than a twinkle in the eye of developers. The only other restaurants in the area were The Rockford, a second floor hideaway, and Sunflowers, a hippie-holdover sandwich shop that would subsequently move away, and the Raleigh dining stalwart 42nd Street Oyster Bar.
Much of what is on the menu at 518 West is also available at its twin restaurant, 411 West in Chapel Hill. But if you don’t want to drive to Chapel Hill for the very popular lemon linguine, shrimp polenta or any of the wood-fired pizzas, you have to go before its last day of service on Easter Sunday, April 5.