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Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Two area businessmen invest in Falmouth

Two Fredericksburg-area businessmen have invested in the future of Falmouth Bottom.

Paul Eakin, a commercial Realtor with Cushman & Wakefield | Thalhimer, and Jeff Scott, owner of Advantage Business Advisors in Fredericksburg, each recently purchased a commercial property in the historic section of southern Stafford County.

Eakin bought the 5,200-square-foot building at 103 W. Cambridge St. that houses Amy’s Cafe on the ground level and a two-level apartment that Eakin now occupies with his wife above the restaurant. The sales price was $515,000, according to a news release from Thalhimer.

Eakin recently received a $60,000 grant from Stafford’s Economic Development Authority to help fix up the 200-year-old building, including an expanded kitchen area for Amy’s. Eakin signed a new lease with restaurateur Amy Johnson that allows her to stay open later at night. Johnson’s previous lease didn’t allow new customers to enter the restaurant after 7 p.m., which hurt business.

Scott purchased the 5,000-square-foot building directly next door at 105 W. Cambridge St. that was formerly home to Chuck’s Auto Body. The sales price was $305,000, according to the Thalhimer news release. The deal also included a vacant lot across Washington Street that area residents and businesses use for parking.

For now Scott plans to lease the building to a body shop and auto-repair business. Longer term he thinks the property will be redeveloped along with much of the rest of Falmouth. Stafford has designated that area for redevelopment into a village concept that could enhance tourism opportunities.

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