By MICHAEL KITCH, LACONIA DAILY SUN
LACONIA — The Pemco Building on Main Street, which houses the Garden Theater, is under a purchase and sales agreement, Chris KellyRe/Max Bayside confirmed Wednesday.
Built in 1926, the Pemaco Building offers 19,115 square feet of space on three floors, the second of which is dominated by the Garden Theater with seating capacity for 500 people. There are five commercial units on the ground floor and apartments on the top floor. The building, which the city has assessed for $161,300 was listed at $299,900.
Kelly declined to identify the prospective purchaser, but described him as "a fond investor in Laconia real estate" who has acquired a number of well-worn properties and transformed them into "outstanding properties. He said that his goal is to own and operate the building while leaving the theater intact. "He appreciates what is there," Kelly said.
Kelly added that Re/Max is negotiating offers for two other downtown buildings — the Cook Building next door to the Pemaco Building at 610-618 Main St., and the triangular McIntyre Block at 12 Pleasant St. All three buildings were purchased by Dwight Barton in 2007 and listed for sale in April.
Kelly said that "the timing is right," adding that the announcement a year ago that the Colonial Theatre would be restored and reopened has spurred interest in downtown properties.
The Pemaco Building. (File photo)
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