RUMFORD – Two companies have signed five-year leases for about 70 percent of the space at the former Abbott Farm Plaza.
Jay Wise, owner of Wise Real Estate of Portland, who is doing business as Rumford Realty Partnership, said Thursday that The Discount Barn and The Dollar Tree have both signed leases, and both plan to open their doors by Sept. 1.
The final papers on the sale of the 83,000-square-foot shopping complex, located about two miles west of the village area, were signed in mid-June.
Wise said he and his partner, Strategic Retail Advisers of Framingham, Mass., are also working with several other businesses for leasing the rest of the space.
Along with new businesses has come a new name, he said.
The Abbott Farm Plaza will be known as River Valley Crossing, a name he said that reflected the area.
RRP bought the complex and about 11 acres from the town for $230,000. The former owners, Druker Corp., also of Framingham, Mass., turned the complex and its acreage over to the town a year or so ago after it had stood vacant for several years. The former anchor tenant was Ames Department Store, which went bankrupt a few years ago.
Dan Lajoie, purchasing and general project manager for Auburn’s Discount Barn, said a crew of about 10 will be working to prepare the former Ames site for the new business.
He estimated 10 to 15 people will be needed when the business opens in September. The full 49,000-square-feet won’t be utilized until a few months later. The number of employees may grow at that time as well.
He said the store will focus on cash and carry flooring at the start, along with office furniture, craft items, tools and whatever surplus loads of merchandise become available.
The Auburn store has been in business for about 10 years he said. The Rumford site will be the second store opened by the business.
The Dollar Tree is a national chain that includes several thousand stores located around the United States, said Wise.
The new River Valley Crossing sign will be installed once the two new businesses open.
Wise believes the other storefronts will be filled soon after.
“Once there’s new life, everything will fall into place,” he said.
He said he plans to negotiate with the town for the purchase of 15 to 20 acres located behind the complex when solid interest is shown by potential businesses.
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