EDA purchases site of Stokes General Store
The Front Royal-Warren County Economic Development Authority announced Tuesday that it will purchase the Alvin Stokes General Store at 553 E. Main St., Front Royal.
B&G Goods, a retail company, approached the EDA about the property, which has been on the market for about a year. The EDA will purchase the property and lease it back to B&G with an option for the company to buy it in three years.
According to Jennifer McDonald, executive director of the EDA, B&G approached the authority because the company could not get a loan from a bank to buy it without doing business in that location for two years.
“B&G is a new company, they are a partnership between two gentlemen that have each owned successful businesses in the past,” McDonald said. “We looked at their financials and decided they would be a good fit.”
According to McDonald, this deal will not cost taxpayers any money.
“The mortgage, insurance, everything will be paid 100 percent by B&G,” McDonald said. “After they do business there long enough, they’ll buy the location.”
B&G Goods will sell similar goods sold at the Stokes General Store. B&G will stock the facility and provide a section for seasonal goods. McDonald said the seasonal section may replace the clothing selection currently available at the store.
“For example, they might offer hunting supplies in the fall, they may offer canoes and fishing rods in the spring,” McDonald said. “I believe they will remove the clothing to have room for that section, although nothing is finalized.”
The EDA has leased properties in the past, such as the Dulles Industries/Schnabel facility on Strasburg Road. McDonald said she is just happy somebody is occupying the building.
“We at the EDA want businesses to come to Warren County,” McDonald said. “We didn’t want that property to go empty and we’re happy B&G is coming to our community.”
Henry Culvyhouse can be contacted at firstname.lastname@example.org or at 540-465-5137 ext.184.