With rents laborious to search out on Fundamental Road, some Ellsworth biz house owners determine to promote
Industrial workplace and retail house in downtown Ellsworth isn’t straightforward to come back by as of late, however a number of current companies and buildings can be found to potential newcomers — for the precise worth.
As Ellsworth has been rising, demand amongst companies looking for to have a presence downtown additionally has elevated. There have been many “for lease” indicators in Fundamental Road storefront home windows within the late 2000s and early 2010s, however over the previous a number of years Ellsworth’s downtown has seen an inflow of many new shops, eating places and different companies.
Now, on the heels of that turnover — and with disruption of the Covid pandemic now of their rearview mirrors — the house owners of a number of longtime downtown companies have determined to promote.
Together with kitchen provide retailer Rooster Brother and seasonal restaurant Union River Lobster Pot, Coastal Interiors and The Dream Catcher vintage retailer are also available on the market.
“The timing and economic system appear ultimate,” mentioned Janna Richards, the town’s financial improvement director. “Downtown by way of retail house and workplace house is just about occupied.”
The listing worth for Coastal Interiors, which simply final fall had a big mural painted on its south-facing wall, is $3.35 million, which incorporates each the enterprise and the true property. The Coastal Interiors property, almost an acre in dimension, consists of frontage on the Union River and has 7,000 sq. ft of ground house.
The Dream Catcher, within the former H.C. Austin furnishings retailer, is on the market for $949,000, which additionally consists of each the enterprise and the constructing. The constructing, constructed after an enormous 1993 fireplace destroyed a lot of Fundamental Road, has almost 10,000 sq. ft of completed ground house, based on metropolis information.
Karen Sawyer, who owns Dream Catcher, mentioned she additionally owns trip rental properties in Ellsworth and, although she is 63 years outdated, she isn’t trying to retire simply but. She mentioned she may open one other vintage retailer exterior Ellsworth, however thinks now is an efficient time to promote Dream Catcher.
“I’m the longest operating retail enterprise on Fundamental Road moreover John Edwards,” Sawyer mentioned, referring to the part between State and Excessive streets on the east aspect of the Union River. “It’s been phenomenal in the summertime. The final two summers have been superb.”
Sawyer mentioned she has gotten a number of inquiries from potential consumers, however most up to now have mentioned they’d change the constructing into workplace house and rental flats. She desires the constructing to stay a spot the place prospects can are available in and purchase issues.
“I wish to maintain it as an vintage store or another retail,” she mentioned. “I need it to draw individuals downtown.”
Richards mentioned there’s particularly sturdy demand downtown for workplace house, with some second-floor workplaces having not too long ago been transformed to flats. She mentioned that although some conversion in sorts of use is regular, the important thing to downtown’s success is preserving a steadiness between retail, workplace house, housing and authorities providers.
Having that steadiness will proceed to draw and maintain younger adults and their kids, which is essential to the town’s continued development, she mentioned.
“We’ve received a reasonably good combine proper now,” she mentioned. “I really feel just like the steadiness is coming again.”
Earlier this summer time, longtime Fundamental Road fixture Finn’s Irish Pub reopened beneath new possession, after having been closed for almost a 12 months.
There are a pair unoccupied areas downtown although, as of Tuesday, there was just one “for lease” signal posted, for second-floor workplaces at 93 Fundamental St.
A former bakery house at 59 Franklin St. stays empty, with its former tenant, The Candy Spot, about to reopen at 61 Fundamental St.
The previous Ellsworth American constructing on State Road, immediately throughout from Coastal Interiors, has a brand new proprietor however stays vacant, with the weekly newspaper’s workplaces now positioned in its printing constructing and within the basement of 59 Franklin St.
