A former Farm Fresh grocery store building at the Oceanfront that has been vacant for more than a year could become a mixed-use development.
“It’s primo real estate,” said Richard Doummar, one of four new owners of the building at 521 Laskin Road. “Somebody could really get creative with this place.”
Two weeks ago, Doummar, David Bailey, Martin Murden and Bill Overman bought out Harris Teeter’s lease on the property, which is next to the Laskin Road roundabout. They plan to revive it with multiple tenants or take it in a new direction. Over the next 60 days, they’ll be shopping it around to developers who may be interested in going vertical with apartments.
“That’s a real possibility,” Overman said.
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With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping centers, apartment communities, office, industrial and investment properties throughout the Mid-Atlantic and Southeast.