Raleigh bar owner buys Person Street building after longtime business relocates

August 13, 2026 - 00:51

The owner of William & Company, a popular cocktail bar in Raleigh's Person Street corridor, has closed on the purchase of the building her business has called home for years. Liliana Ballance paid $2.7 million for the two-story structure, securing the property after the building's longtime anchor tenant, a neighborhood institution, relocated to a new space earlier this year.

The sale marks a significant shift for the block, which has seen steady change as nearby development pushes east from downtown. Ballance said in a statement that owning the building gives her bar long-term stability and allows her to invest in upgrades without worrying about lease renewals or rent hikes. She also hinted at possible improvements to the exterior and patio area in the coming months.

The previous owner had held the property for decades, and the building has been a fixture of the Person Street shopping district since the mid-20th century. The departing tenant, a well-known gift shop and coffee spot, moved to a larger location just a few blocks away, leaving the ground-floor retail space vacant. Ballance plans to keep the bar on the second floor and is currently evaluating options for the empty storefront, including leasing it to a complementary business like a bakery or a small grocer.

Real estate records show the deal closed in late September, with financing arranged through a local bank. The purchase price aligns with recent sales in the area, where commercial properties have gained value as residential projects continue to rise nearby. Ballance, who opened William & Company in 2016, said she has no plans to change the bar's character or hours, and she expects to remain a steady presence on the street for years to come.