MADAWASKA, Maine – Madawaska’s former Kmart building, which has been on the market since April 20 of last year, has finally sold.
The building has been vacant for over five years, since the town’s Kmart store closed in early 2019. It was built in 1973 and includes 54,973 square feet of space. The building is a major part of Madawaska’s midtown plaza, which is currently undergoing a significant revitalization effort that includes the construction of a new 30,000-square-foot, $14 million Fish River Rural Health facility.
Madawaska Town Manager David Daigle said this week that the building was sold on August 21 to S.P. Real Estate LLC, but said the sale amount can not yet be confirmed. S.P. Real Estate is owned by Fort Kent businessman Steve Pelletier.
“It is our understanding that this property sold for $250,000,” Daigle said. “We will only be able to confirm that amount when the town receives the Tax Transfer Declaration.”
Daigle said he has communicated with Pelletier, who also owns the Valley Motors auto dealership in Fort Kent.
“He has immediate plans to utilize the facility as storage, and not too far into the distant future, two to four months perhaps, a possibility for retail and office space,” Daigle said.
Pelletier said via email on Wednesday that he doesn’t have any specific plans for the building yet, and that he initially purchased it to add more capacity for his storage business.
“I believe it still has some life in it as a retail space or other use,” he said. “In the meantime, I’m going to invest some money in it to bring it up to code.”
Daigle said the purchase will complement work already being done at the plaza.
He said Madawaska is investing $4.2 million in grants from the US Economic Development Administration and via Congressionally Directed Spending into the plaza. This money will be used to upgrade the sewer and water infrastructure and go toward bringing sidewalks up to modern compliance. Work in the plaza will also include removing the old Subway restaurant building and replacing it with an entrepreneurial space for the arts and businesses.
Planned work also includes expanding the Farmers Market on the plaza to include public restroom and washroom facilities as well as EV car and bike charging stations.
A multi-use recreational trail is also planned near the plaza, which will improve access to downtown businesses and to the newly completed port of entry into Canada. Daigle said this work will ideally support international economic development and tourism.
Looking ahead, Daigle said he and town officials are optimistic about the purchase.
“The town’s Select Board is welcoming of the owner’s plans to help bring new economic development to Madawaska, and will work with the company, to the extent possible, to help meet their needs,” he said.
