The Old Grand Union-New Marketing Effort For Dormant Commercial Property
The Old Grand Unionâ
New Marketing Effort For Dormant Commercial Property
By Jan Howard
A tenant is actively being sought for a commercial building at 5 Queen Street, formerly the site of a Grand Union supermarket. The building has been vacant for approximately four years, but marketing efforts picked up about a month ago when signs went up on the property advertising it for lease.
David Brause of Brause Realty of New York City, who represents property owner Eton Centers Company, said Wednesday he has received interest from approximately 50 people or companies, some in Newtown, that are interested in moving to the site. Potential uses have ranged from food to retail to community service organizations, he noted.
âWe were pleasantly surprised by the interest,â he said. âThereâs no reason we canât lease the space.â
Mr Brause said the space has been leased to C&S Wholesale Grocers, Inc of Brattleboro, Vt., âbut they havenât been there. Weâre in conversation with them to take back the store and rent it to someone else.â
He would not elaborate on the status of the lease agreement with C&S.
The 35,000-square-foot building sits on 7.55 acres of land. According to Newtownâs Office of Community Development, zoning regulations would permit a shopping center, offices, or other retail activity at the site.
Mr Brause said the rental price would range in the $20 to $25 per square foot range.
The building, which also includes First Union and Brooks, has a total area of 47,686 square feet. It is connected to public water and sewer and is serviced by Yankee Gas and Connecticut Light and Power.
Community Development Director Elizabeth Stocker said Tuesday she has had ongoing discussions with both companies regarding the building. She noted there appears to have been issues that needed to be resolved between the owner and C&S.
Ms Stocker said that since Brause Realty is marketing the property, it âseems that they are making headway. But itâs not fast enough for the town.â
There is no zoning issue regarding the property, Ms Stocker said. âThe town and borough are supportive of any of the proposed uses. The town wants to see that building occupied and maintained.â
However, she added, âOur hands are tied. We have no authority.â
She said the town is continuously receiving calls from businesses regarding the property. âTrust me, they could get top dollar for the lease.â