Geyer Capital Management plans to renovate and upgrade the Shem Creek property, at 97 Church St., then reopen with a new tenant.
Spokeswoman Holly Fisher said the sale had been in the works prior to the coronavirus pandemic.
Ronnie Boals originally opened R.B’s Seafood in 1979 in an old fish shed. In 2002, a fire destroyed the restaurant, but Boals rebuilt and reopened in September 2003.
At one point, Boals owned six restaurants in Mount Pleasant, downtown Charleston, North Charleston and on Johns Island, but he got out of his other business ventures about 10 years ago to focus on R.B.’s.
“It’s been a great business; we had a lot of dedicated repeat customers,” Boals said in a news release. “I’m going to miss seeing them come in and out.”
The deal was brokered by Charleston Commercial, led by C. Kendrick and managing director Joshua Schaap.o