125K square feet for sale downtown

LACONIA — Charlie St. Clair's recent decision to sell the Laconia Antique Center means there is now more than 125,000 square feet of downtown commercial real estate on the market.

There are also tens of thousands of square feet of space available for lease.

Backers of a project to refurbish the once-grand Colonial Theatre say a revitalized entertainment venue should spur interest in the struggling area, but for now, many shops are empty and real estate signs have sprouted like mushrooms.

St. Clair rents out space in his building at Main and Hanover streets to merchants who display everything from old phones to pocket knives to furniture.

Nostalgia is part of the attraction.

“I Wonder Why,” by Dion and the Belmonts was playing in the store on a recent afternoon while a father showed his son items from the past that line shelves and display cases.

Here's an old pink princess telephone. There's a vintage typewriter. Some old RC Cola bottles gather dust.

St. Clair also maintains an old-fashioned lunch counter in his store, serving up comfort food and drinks popular long ago.

Downtown spirit

“I personally think there is a great opportunity for business to grow because of what is going on at the Colonial Theatre,” St. Clair said. “I have total confidence that the project will be finished and, when it is done, it will be a win-win for everybody downtown.”

At age 67, St. Clair, who is executive director of the Motorcycle Week Association as well as a state representative and a member of the city Planning Board, said he is selling because he wants more free time to pursue travel and other interests.

The building and the business is listed for sale at $735,000. The property at 601 Main St. is assessed at $446,200. The 22,959-square-foot structure was built in 1950 and was once home to a J.J. Newberry's store. It is next to the Colonial Theatre and was built with structural steel that could support additional floors.

A block away, a 28,752-square-foot building at 546 Main St. was placed on the market in February at $980,000. Property records show it is owned by Laconia Town Center LLC, with Robert Sawyer as the co-owner.

Tenants include Family Dollar, Empire Beauty Schools and The Whiskey Barrel. It is assessed at $852,700.

Sawyer, who operates a nearby jewelry store, also pointed to the Colonial Theatre project, which will include 14 apartment units and four store fronts, as something that should spur further investment.

“It's a project that's large enough so that I think it makes a difference,” he said. “Then there will be more support businesses that benefit from something like that, maybe someone will go to the theater and have a bite to eat beforehand, maybe a bite to eat afterward. It creates traffic, interest, somebody coming down and maybe looking in a window and saying, 'I want to come back.'”

Owners and buildings

There are examples of new businesses coming to the downtown core, such as the Fit Focus athletic club, but there are also many vacant buildings.

“Sometime the problem is the building and sometime the problem is the person who is managing the building,” Sawyer said. “I'm an advocate of local ownership of things. If you see something needs attention, then you are more apt to deal with it than if you are far away.”

Three buildings that helped define downtown for a century went up for sale in 2016. The Pemaco Building, at 622 Main St., the Cook Building, at 610 Main St., and the triangular McIntyre Block at 12 Pleasant St., were purchased by Dwight Barton in 2007, but had gone into receivership.

The McIntyre Block, where there are now vacancies, and the Cook Building were purchased by investors out of Jupiter, Florida. The Pemaco Building was purchased by investors from Framingham, Massachusetts.

The largest open space downtown is at 653 Main St. Once home to a Masonic Temple, the building comprises 40,000 square feet and is on the market for $1.89 million. City records show it is owned by A.V. Realty Trust, with the co-owner listed as Antonio and Virginia Fierro of Boston. They purchased it in 2000 for $275,000. It is assessed at $738,800.

Old church

Also available for sale downtown is a former Evangelical Baptist Church at 12 Veterans Square, which was home to the Holy Grail Restaurant and Pub before it went out of business.

Its sales listing says there is seating for 250 people, ample parking and a high-end level of finish, including a “32-tap system featuring the best selection of craft brews in the market. The price is $975,000, and it is assessed at $580,000.

“Adding a brewery operation would be a perfect tie in to this turnkey business opportunity," the listing states. 

“Over 2.3 million was invested into this project, but running multiple restaurants is taking its toll on ownership and it is time to sell.”