He said it is not typical for an investor or developer to buy land without a tenant or plan in place, but said the market for land like this will eventually be revived. “It just hasn’t come back yet,” he said.
The property is located in the Highway Business District, which is intended for “retail, trade, service, and other commercial uses; multi-family residential uses at a density defined by this bylaw may also be permitted by special permit,” according to the town’s zoning bylaw.
Planner Director Glenn Gibbs said this has been a property of interest for the town for quite some time.
“It is one of the relatively few properties that are available for commercial or industrial use,” he said. “It is a decent size property. There are a lot of options.”
Unlike when the Hannaford plan was proposed, the Whittier Motel property will most likely not be for sale, he said. Roger LeBlanc, owner of the motel, has been renovating it for several years and recently added 10 more rooms in a new building.
Cargill said no work is currently being done at the property, despite several Dumpsters on site in the past week.
“The building was being cleaned out,” he said. “The buyers wanted the building to be broom clean.”
Kaneb said this was a real estate venture he was willing to make without a concrete plan.
“I just think it is a nice piece of real estate,” he said.
Staff writer Jonathan Phelps can be reached at 978-338-2527 or by email at email@example.com. Follow him on Twitter at JPhelps_SN.