Two Wilmington-area Harley-Davidson dealerships changed hands earlier this year.

Former owners Rick and Janice Noyes sold Wilmington’s Carolina Coast Harley-Davidson and Beach House Harley-Davidson in Shallotte to the Cole Family of Harley-Davidson Dealerships, according to a news release from Performance Brokerage Services, a firm that specializes in buy-sell activity for automotive, RV, commercial truck, power sports and equipment dealerships.

Both local Harley-Davidson dealerships have been family-owned and operated by the Noyes for more than three decades, according to the release. 

"Building a business from the ground up and making it a staple in your community for over 30 years is quite a feat," Rick Noyes wrote in the release. "Selling that well-established business is another, sometimes emotional journey.”

Deed records show the dealership at  6620 Market Street in Wilmington was purchased for $3.5 million on Oct. 31. The dealership at 100 Harley-Davidson Drive in Shallotte was purchased for $4 million on Nov. 5.

Following the sales, Rick and Janice Noyes continue to operate New River Harley-Davidson in Jacksonville. The dealership's new owners, who include Charlie Cole, Will Cole and Freddy Tedesco, are renaming the stores. 

Carolina Coast Harley-Davidson will be renamed Shipwreck Harley-Davidson and Beach House Harley-Davidson will be renamed Sea Breeze Harley-Davidson. Both stores will remain at their current locations.

George Chaconas, senior partner with Performance Brokerage Services, and Courtney Bernhard, partner of the company's Harley-Davidson & Powersports Division, served as the exclusive sell-side advisors for the transaction.

In the release, Chaconas said he met with Rick and Janice Noyes at a Harley-Davidson dealer show more than five years ago to discuss the possibility of selling the two stores. 

“In the years following the pandemic, Rick called me to revisit selling their stores. Shortly thereafter, my partner Courtney Bernhard and I flew up and met with him and his wife to help them prepare for a sale,” Chaconas wrote in the release. “After providing an estimate of value and a marketing strategy, we identified a unique and qualified buyer, the Cole Family of Harley-Davidson Dealerships.” 

The sale allows the Noyes to “ transition to semi-retirement and focus on their remaining store,” according to Chaconas.

Charlie Cole, president of the Cole Family of Harley-Davidson Dealerships, has been a Harley-Davidson dealer since 1998. With the addition of the two Wilmington-area store, the group now owns eight dealership locations across Virginia, West Virginia, North Carolina and South Carolina.

Rick and Janice Noyes were represented in the sale by Logan Parker and Greg May at Bass Sox Mercer in Tallahassee, Florida. The Cole Family of Harley-Davidson Dealerships was represented by Eric Gregory at Gregory Law, LLC in Johns Creek, Georgia, according to the release.