Economy makes new grocery store unlikely

Hooksett Editor — Wed, 22 Oct 2008 20:14:00 GMT

BY TOBY HENRY

Candia officials say options for selling the most valuable piece of town-owned land to a grocery chain could be limited as economic conditions worsen and companies rein in spending.

Selectmen Joe Duarte, who is also heading the committee tasked with selling the 12-acre plot off Route 101’s Exit 3, said confidence was buoyed after a representative of a would-be buyer recently said there was interest in purchasing the parcel. But Duarte, who did not identify the interested party, said problems eventually emerged.

He said it was a case of someone “looking to get a lot for nothing,” and he added that town officials believe the parcel could be worth as much as $400,000. As of now, officials are back to square one in the ongoing task to bring the first supermarket to town.

For the past year, the Exit 3 land sale has been one of the most-discussed issues that Candia officials have worked on, and as recently as May, Duarte and other officials said their confidence was running high. At an April grocers’ convention, more than 100 fliers on the piece of local real estate were provided to dozens of company representatives.

Five months ago, officials also seemed optimistic after meeting with state economic experts indicated there was a good market -- at that time -- for the parcel. But Duarte said that since then, letters of interest sent to a half-dozen area grocery store chains have been returned with statements that the companies are “not interested at this time,” and he admitted that the recent stock market downturn does not bode well for their sales effort.

“We haven’t given up on it, but credit is tight and they’re just not coming in right now.”

Selectmen Chairman Fred Kelley said the town might ultimately opt to withdraw the proposal until conditions improve, but no decision to put the effort on hold has been made yet. For the time being, he said the project’s request for proposal will remain posted on the town’s official Web site even though their prospects for selling it could be diminishing as the economy worsens.

“With the economy the way it is, it’s really no wonder that it hasn’t sold because no one has the money,” he said.

Candia News : grocery store

Economy makes new grocery store unlikely