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UNT to move ahead with plan to purchase Sack N Save


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The University of North Texas can now move forward with purchasing the Sack N Save building at 1500 Interstate 35E.

The UNT Board of Regents voted unanimously for the chancellor or a designee to move forward with buying the property for $6.25 million.

The property was valued $2,155,200 by the Denton Central Appraisal District last year.

In September, the board authorized the chancellor or a designee to work on an agreement to buy the property, and use eminent domain if a deal could not be reached.

Read more: http://www.dentonrc.com/local-news/local-news-headlines/20150408-unt-to-move-ahead-with-plan-to-purchase-sack-n-save.ece

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Why would we pay 3x the property value?? That could have gone toward the convention center to make the deal palatable for everyone.

Taxable value and market value are typically different. As an example a house across the street from me just sold for nearly $150k more than it's taxable value - and while I don't know the ins and outs of commercial real estate, Id say you probably have to pay value of property PLUS earning potential of that property factored in over a number of years since the property owner won't be able to collect those rents once it is sold.

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I need to drive up to Denton this weekend and purchase one last bottle of expired malt liquor self bagged in musty plastic.

RIP Sack N Save. I hardly knew ye...Mostly because the only time I ever set foot in you was when I'd run out of beer, really didn't need more, but your welcoming fluorescent lights called me like a siren in the night to get more.

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I read it was a Sack & Save in name only, though. He executed like a Stop & Shop if you look past the rhetoric and at actual store performance.

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