Chef wanted: Famous Maine restaurant up for sale

Posted Oct. 21, 2013, at 6:44 p.m.
Last modified Oct. 22, 2013, at 9:05 a.m.
Arrows Restaurant, a staple of Ogunquit's dining scene for the past 25 years, is for sale.
Courtesy of Lux Realty Group
Arrows Restaurant, a staple of Ogunquit's dining scene for the past 25 years, is for sale.

OGUNQUIT, Maine — One of Maine’s most well-known restaurants is for sale.

The owners of Arrows Restaurant, a staple of Ogunquit’s dining scene for the past 25 years, placed the business on the market last week, according to John Golden, managing partner of Portland’s Lux Realty Group, which is handling the sale.

The restaurant has been a destination for foodies for years, and was an early pioneer of the farm-to-table movement, practicing its tenets “before that term came to be,” Golden said.

In 2010, Clark Frasier and Mark Gaier, the owners as well as the chefs, received the James Beard award for best chefs in the Northeast.

The sale price is $1.2 million, which includes 3.7 acres, the restaurant and all its equipment, and a vegetable garden and greenhouse, Golden said. Its address is 37 Ogunquit Road.

“It’s being sold turn-key with all the furniture, glassware, napkins, linens, flatware,” he said. “Someone new can go in there and turn on the stove.”

However, the sale price does not include the brand, which would increase the sale price if a buyer wanted to continue operating the restaurant under the Arrows name, he said.

A message left at the restaurant, which is closed for the season, was not returned on Monday afternoon.

Golden provided some explanation as to why Frasier and Gaier are looking to sell.

“There isn’t much of a story other than Clark and Mark have ran it for 25 years and thought it was time to do something different,” he said. “They’re concentrating more on their MC Perkins Cove restaurant” — also located in Ogunquit — “and their new restaurant opening in the Renaissance Hotel in Boston.”

Boston Magazine in March reported that Frasier and Gaier plan to open MC Medici Ristorante & Bar in the Renaissance Hotel.

Golden said Arrows is “profitable and successful” and that several buyers have expressed interest in the sale. He didn’t think it would be long before a buyer is found.

“They’re wistful about it,” Golden said of Frasier and Gaier, “but they’re excited about what they’re doing.”

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