The first order of business for the new owners of Mad River Green Shopping Center is repaving the entrances from Route 100 into the commercial center.
That’s the word from Ryan McGuane, who with his father Joseph McGuane, purchased the shopping center from Crosspoint Associations on June 28. The McGuanes are from Ayers, Massachusetts, and are longtime Valley second-home owners.
“This deal came about while sitting at Toast and Eggs having breakfast 11 months ago. It took that long. We had had to sell another building. We’ve been fighting for this thing for a while,” he said.
Part of that fight was having Crosspoint break off the 3.1-acre Shaw’s property from the 16.5-acre total shopping center so that they could purchase the balance of the 13.4 acres. The Waitsfield Development Review Board approved that subdivision in late April.
“Without subdividing, Shaw’s would have needed to do owner financing to make the deal work, but that allowed us to go forward,” he explained adding that he and his father are working to sell other real estate to purchase the Shaw’s parcel.
“Most importantly, we were able to keep all the tenants. And unlike the former owners, we don’t own hundreds or thousands of shopping centers. This is the only shopping center my father and I own. It gets 100% of our attention and we’re 100% focused on the tenants and making them succeed,” he added.
McGuane joked that the shopping center entrances could double as moguls, something he thought Valley folks loved, but then reiterated their plans to address the paving issues immediately. Next up after that will be painting the rooflines and the entire structure, he said.
He and his family have been coming to The Valley for 30 years. His parents have a Briar Cliff condo in Warren and he purchased the Spaulding farm house in Waitsfield two years ago and spent time in the interim completely renovating that 1788 structure.
You might also like
