While some people focus on buying holiday gifts, others prefer to purchase land.
A local real estate investment firm has purchased a vacant lot on North Main Street from a local church, the buyer confirmed.
KSBL Enterprises LLC, a partnership that includes Kurt Richardson, a commercial real estate investor and an owner of three Subway restaurants in Roswell, bought the 50,759-square-feet parcel.
“We did buy land adjacent to the church,” said Richardson. “We don’t have any project set out for it right now.”
The lot is between St. Mark’s Evangelical Lutheran Church at 2911 N. Main St. and a business center, also owned by KSBL Enterprises, at the corner of North Main Street and East Mescalero Road. St. Mark’s had owned the land for decades.
That business center at 2901 N. Main St. has three tenants, a Subway restaurant, a Style America salon and a Title Cash loan office.
Richardson stressed that the transaction has nothing to do with the Subway restaurant and that the investment group has not made any plans for what to do with the parcel.
“The idea is that we might expand at some point in the future,” Richardson said.
Richardson is a franchisee of Subway, operating three stores locally, all on Main Street.
According to state records, KSBL Enterprises LLC was formed in May 1999. County records indicate that the North Main business center owned by the group is on land that measures about 35,110 square feet.
A representative with St. Mark’s chose not to speak publicly about the transaction.
Senior Writer Lisa Dunlap can be reached at 575-622-7710, ext. 310, or at email@example.com.