By Karissa Minn
kminn@salisburypost.com
SPENCER ó The Rowan-Kannapolis ABC board took a loss on the sale of its former Spencer store last week, but its members say theyíre glad to be rid of the empty building.
General Manager Terry Osborne said the board voted unanimously at its meeting Monday to accept a $60,000 offer from Susan Morris.
The property had been previously appraised at more than $100,000, but the economic downturn lowered its selling price, Osborne said Tuesday.
ěCertainly, it was not what we would have liked to have had for it,î said Chairwoman Linda Lowman. ěBut considering the times, we went ahead and sold it. It was just time.î
The Spencer ABC store, located at 108 Fourth St., closed in April 2007 after several efforts to boost its declining sales fell short. A gym called Force Fitness began renting the property soon afterward but left nearly a year ago.
The building had been vacant since then while the board continued to pay for maintenance, utilities and insurance.
ěThat expense adds up, so I think they were just glad to make a deal on it and close it,î Osborne said.
After failing to find a new tenant, the board voted in January to list the property for sale at a price of $80,000 or for rent costing $800 per month.
In June, it voted to accept sealed bids for the store.
Lowman said Friday that Morrisí bid was the highest out of two the board considered.
The other bid came in at $55,000, she said, and a third offer of $50,000 was entered but withdrawn.
Lowman said she and the other two board members, Ken Argo and David McCoy, chose to take the highest bid instead of offering a 10-day upset bid period.
Lowman and Osborne both said they do not know what Morris plans to do with the building.
ěThere hadnít been anybody in it for a good while,î Lowman said. ěIf we werenít going to use the building, we didnít see any need to keep it.î
She said she understands that some people in the area want an ABC store back in Spencer, but it wouldnít work to open one in the same location.
ěIt just makes no sense to open up a store when we were losing money there to begin with,î she said. ěItís just too close to the Ketner Center store.î
Lowman said the board members havenít ruled out opening another store in that area, but in this economy, they canít justify it.
Contact reporter Karissa Minn at 704-797-4222.
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