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| Area's in blue were sold |
The building, located at 318 N. Gay St. just north of Market
Square, closed Dec. 31, 2010. At the time, proprietor Bill Regas said the
eatery was tough to keep open as it competed with construction projects, other
nearby culinary competition and an overall poor economy.
Brothers Frank and George Regas founded the restaurant in
1919.
The sales includes the iconic building, and the property and
parking lot that fronts West Depot from N. Gay Street to Williams Street with
the exception of a 25-foot strip owned by the City of Knoxville. The total is
roughly 2.25 acres.
Regas Property, LLC is a new company. The address goes back
to real estate services firm Sperry Van Ness/R.M. Moore.
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