Sammis Is Top Bidder
On ‘Co-op’ Space
By Sandy Vondrasek Cooch

Jesse "Sam" Sammis III of Randolph is set to be the new owner of the 7500-square-foot space that housed the Randolph Cooperative Market until this spring, when the debt-ridden natural foods market closed.

Randolph National Bank’s Joe Boyd, senior loan officer, confirmed last week that Sammis was top bidder in the bank auction, which closed August 17. Boyd said a closing on the Pleasant Street property is tentatively set for the end of September.

In an interview conducted via a mobile phone, Sammis told The Herald late last week that he has no specific plans for the use of the space. He will take immediate steps to improve the property, he said, including a new heating system and entryway, and an exterior wall "treatment" to make the building more attractive.

Sammis said he is considering a number of options for the use of the building, and that a surprising number of people have approached him with ideas.

The Randolph Cooperative Market bought its Pleasant Street store space in 2003 for $190,000, after renting it for three years. The ground-floor space is part of a four-unit condominium, along with "The Underground" basement level, Tony’s Gym" on the top floor, and the separate building housing the "3 Bean Café."

Randolph National Bank, which held the Co-op’s mortgage on the ground-floor space, took over the deed in a foreclosure action in April, and then put the property out for bid this summer.

Boyd said there were "a few bidders" on the property, and although he declined to give the winning bid amount, Boyd indicated bank officials were happy with the sale.

Not participating in the property auction was the town of Randolph. Its selectboard considered bidding, after Town Manager Peter Butterfield pitched the building as a possible good site for the town offices.

However, the board, citing potential problems with the structure and the condominium set-up, opted not to submit a bid.

Sammis indicated that he thought the town offices could be a good use of the building, and added that it was "not too late" for that option.

Sammis has considerable land holdings in Randolph, including the Stock Farm and the Three Stallion Inn, property on two quadrants of the Exit 4 interchange, and two buildings on Depot Square in Randolph Village, both of which he renovated after purchasing. One, the old depot building, now houses a café.

The other, the former Brooks Pharmacy site across the street from the depot, has been mostly vacant since Sammis bought it. Presently the second floor is 80% rented, Sammis said, and he has had discussions with "a couple of retail tenants" regarding the ground floor, but nothing firm yet.

Sammis said that his decision on how his newest acquisition might be used would be based on what would be "best for the building and for me as an investor."