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Since the opening in 2011, the goal of the Los Alamos Co-op Market has been to cater to the community.
With the purchase of the building at 95 Entrada Dr., General Manager Steve Watts said that goal will continue. He said the community had a lot to do with purchasing the building.
The co-op has been leasing the building from Main Gate LLC since its opening and Main Gate was instrumental in providing the co-op with an affordable and timely option when the co-op was looking for a location nearly four years ago, with a ground-breaking in 2010. The building was purchased late last month for $1.65 million. “Overall, it was a smooth process,” Watts said.
The co-op board and Watts have worked on the purchase for approximately six months after determining that it would be in the best interest of the co-op member/owners to own rather than continue leasing.
“This move has improved our cash position,” Watts said. “Because of the improved situation we are able to repay member loans.” There are about 180 investors. Repayment of member loans begins in 2015.
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