Worcester Business Journal

wbjournal.com | June 24, 2024 | Worcester Business Journal 5 After failed multifamily proposal, former Canal District BBQ spot to become Chinese hotpot restaurant e former site of Smokestack Urban Barbecue in Worcester's Canal District, once destined to become part of the Table Talk Pies Los apartment develop- ment, has been sold to a restaurant group with plans to convert the space into a Chinese hot pot restaurant. e property, located at 139 Green St., was sold for $680,000 in a deal finalized on June 14, according to Worcester Dis- trict Registry of Deeds records. e property was sold to Lameima LLC of Brookline. e purchas- ers of the site are the operators of LaMei Hot Pot, a Chinese restaurant with locations in Brookline and Providence, said Mark Johns, a broker at Worcester-based Kelleher & Sadowsky Associates. Johns and Drew Higgins of Kelleher & Sadowsky Asso- ciates represented both the buyer and the seller. e site will undergo a renovation, with a potential opening in the fall, Johns said. e property was sold by 139 Green Street Worces- ter LLC, an entity managed by Richard Romaine, the former operator of Smokestack. e property remained under Romaine's ownership as North Carolina-based Quarterra Multifamily Communities sought approvals for redeveloping the site into a 375-unit apartment building. ose plans were officially axed when the property was put back on the market in December. Smokestack permanently closed in November 2022. Romaine continues to operate Romaine's Wood Grill and Bar in Northborough. Webster Five CEO to retire; Worcester native to take over Webster Five President and CEO Don Doyle will retire from his roles at the community bank on July 1, 2025, with current CFO and Chief Operating Officer Brian Westerlind set to replace him. Doyle has been at Auburn-based Webster Five for 20 years, having spent nine years as the firm's leader. Doyle led the firm through COVID-19 and the move to the firm's new headquarters in Auburn, which was completed in July 2021. He started his banking career at Mechanics Bank in Worcester in 1985. Doyle's replacement, Wester- lind, is a Worcester native who joined Webster Five as its CFO in 2010. A member of the boards of the Worcester Community Action Council and the Worces- ter Regional Chamber of Commerce, Westerlind graduated from Providence College in Rhode Island with a bachelor's degree in accounting, according to his LinkedIn profile. Don Doyle, outgoing CEO of Webster Five 508-757-3311 Your Business is Our Top Priority Business moves quickly and your organization needs partners it can rely on. At S&G we have the knowledge, technical expertise and industry experience to get the job done. You'll always be our top priority! We'll be there to help with strategic Value Growth Planning - a holistic approach to helping business owners align their business growth plans with their personal goals and objectives. Our proven processes will help grow revenue, increase profitability, grow your business value and help the business be less dependent on you. Combine that with our "Awesome Service Guarantee" - our commitment to customer care and personal attention - and you'll see why S&G is the partner of choice for so many winning organizations. For more information or to set up a no-obligation initial consultation contact Matt Allison, Consulting Division Lead Partner at mallison@sgllp.com www.sgllp.com • Strategic Planning & Execution • Value Growth Planning • Business Transition & Exit Planning • M&A Advisory • Accounting & Tax Services to set up your no obligation initial consultation, please contact us today. Amazon Best Seller! Co-authored by Terry Shepherd of Worcester's S&G LLP - Business Consultants and Certified Public Accountants Based on more than 45+ years experience working with business owners. Continued on next page The former location of Smokestack Urban Barbecue

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