Steve Salis, a hospitality executive, investor and entrepreneur, has acquired a Montgomery County restaurant property once occupied by Woodmont Grill for $7 million.
The space will accommodate a new Ted’s Bulletin in 2027, marking the restaurant’s 10th location, according to a release.
Hillstone Restaurant Group, the owner and operator of Woodmont Grill, was the seller in the transaction brokered by a CBRE professional. The transaction closed on Monday, Aug. 17, according to a release. Woodmont Grill, a fixture in Bethesda for more than 30 years, closed its doors last October. Located at 7715 Woodmont Ave., the restaurant property spanned 6,300 square feet.
Ted’s Bulletin, a retro-style diner and hospitality brand, operates several locations in the Washington, D.C., metropolitan area.
Salis, also the founder and CEO of capital holding company Catalogue, said he’s had his eye on Bethesda for six years as an expansion site for Ted’s Bulletin because of its location and historical background.
“As Ted’s Bulletin continues to grow, we’re being incredibly thoughtful about where and how we expand, looking for locations where the brand can become part of the fabric of the community for the long term,” Salis said.
“Bethesda is a natural next chapter in that growth. We see an opportunity to build on the property’s legacy while making a long-term investment in the broader business ecosystem around it.
“Our goal is not simply to acquire the asset and open a restaurant, but to become a committed owner and neighbor, investing in the property, the surrounding businesses and the continued vitality of Bethesda for years to come.”
Dining and Cooking