Photo by Tfcvin Stuttan
Last month a sign advertising the lease and sale, of office space at Premier Park
appeared seemingly overnight. The business park has only had one tenant since
2004.
Lot
from page AT'
Lane has only had one ten
ant. The N.C. Department
of Transportation made use
of the space for a short stint
in 2011 before relocating.
A number of residents
told The Chronicle that
when /the business park
wtas--^first built, they
assumed something that
would benefit the commu
nity would be put there.
One of those residents is
Margretta Key, who has
lived on the 2000 block of
East 14th Street for more
than 30 years. She said a
few years ago, talks began
to surface of a restaurant
moving into one of the
vacant buildings, but those
talks quietly went away.
"It's really dishearten
ing to see the space go to
waste," she continued,
"especially when this
neighborhood is lacking in
so many areas."
Lauren Johnson said
that she is not surprised
that no one has felt the
need to invest in the busi
ness park or the E^st
Winston community. She
said, "For some reason,
people just don't feel the
need to invest in our com
munity. This is nothing
new."
According to business
owners, one issue with
acquiring space in Premier
Park in the past was the
price. In 2012, the property
was listed for $1,100,000,
which is equivalent to $220
per square foot.
During that time, the
lot was owned by First
Mount Vernon Industrial
Association (FMVIA), a
mortgage broker company
based in Alexandria,
Virginia. Court records
show the company, which
was founded in 1994, has
been on the wrong end of a
number of accusations,
including fraud and exclu
sion of evidence.
Attempts to contact
FMVIA were unsuccessful.
Looking toward the
fhture
Although all three
buildings remain empty
today, that all could t>e
changing in coming
months. In recent weeks, a
new sign advertising the
property for sale and lease
appeared next to the vacant
buildings.
It is believed that a
drop in the asking price has
led to more local business
owners looking into
acquiring space in the busi
ness park. Last February,
the price of the property
was $485,000; another
price drop in September
put the property at
$425,000. The fact that the
property is in a Historically
Underutilized Business
Zone (HUBZone) may be
part of the growth in inter
est as well.
HUBZone was enacted
into law as part of the
Small Business
Reauthorization Act of '
1997. The program is an
effort by both the U.S. ?
Small Business
Administration and
Congress to promote eco
nomic development and
employment growth in dis
tressed areas, by providing
access to more federal con
tracting opportunities.
According to the
Meridian Realty Group, a
local commercial real
estate brokerage company,
they have received a num
ber of calls and emails
from people in the commu
nity interested in the prop
erty
John Ruffin, a certified
commercial investment
member (CCIM) at
Meridian, noted that
because the property is cur
rently under contract, his
company is unable now to
discuss any of the deals
that have been presented.
"Given its current sta
tus, I am not able to com
ment until the first of
June," Ruffin said.
Without discussing the
j
future in depth, Ruffin
noted that die property is a
hidden gem that has all the
makings to improve the
East Winston community.
"Cleary this property
"It all sounds good,
but until I see some
thing move into the
buddings, I don't
believe it."
-Lauren Johnson
has potential," he said, "for
not only improving the
area but our entire city."
While talks about the
property continue to heat
up, residents say they will
have to see it to believe it.
"It all sounds good, but
until I see something move
into the buildings, I don't
believe it," Johnson said
when she saw the new
sign.
"That's what I'm wait
ing to see. We've been
waiting a long time."
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Contact Information
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2285 Premier
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I New Mtolkertown Rd.
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