An unnamed buyer has reached an agreement to purchase property in downtown Carrboro with a controversial past.
Divaris Real Estate in Charlotte listed the property at the corner of Weaver and North Greensboro streets in August. Broker Diana Teitsma said an agreement to sell the property was reached Aug. 22, but she would not reveal the buyer or final price. It was initially listed for $850,000. Three offers were made that were above the asking price, she said.
“There was a flurry of interest when we listed it,” Teitsma said. “We were pleasantly surprised with the offers. We knew there was a lot of potential for the property.
A closing date to finalize the sale has not been set, she said.
Alderman Sammy Slade said he hopes the new owners will develop the property in a manner he called “appropriate for Carrboro.”
Revco Discount Drug Centers, Inc., paid Weaver Street Market roughly $1.35 million for the three parcels, including a house on Center Street, in 2010. The parcels have an assessed tax valuation of $855,000.
Revco had planned to build a 24-hour CVS Pharmacy on the corner to replace its store across the street between the Harris Teeter and Carr Mill Mall, but the company did not proceed with the project.
Activists including self-identified anarchists briefly occupied an old bank and former WCOM radio station building on the site in 2012, prompting the property owners to board up the windows and erect a chain link fence around the building and adjacent parking lot.
In 2016, after the Board of Aldermen passed new rules for maintaining buildings, the company announced plans to raze the building, which many considered an eyesore. It was torn down the next year.
At the time, Mayor Lydia Lavelle said: “It’s the No. 1 question I’ve been asked since I’ve been mayor: ‘What are you going to do about the building on the corner?’”
CVS operates more than 9,800 stores, including one in the Carr Mill Mall shopping center across the street.
The town tried to buy the properties in the past.
This is a developing story. Check back for updates.