Medford co-op looks likely to head to Bear Creek Plaza

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The Medford Food Co-op has narrowed its choice of sites to one — the former Toys for the Home store next to TJ Maxx in Bear Creek Plaza — but it hasn't yet finalized a lease for that location.

"We are negotiating terms," said co-op board member John Miele, adding that the owner of the Biddle Road shopping center was eager to work with the co-op.

He explained that the roughly 22,000-square-foot store has about twice as much retail space as the co-op would need, so the board is working out a way to divide it, as well as hashing out financial details of the lease.

"We have a strong obligation to all members in the community to ensure that the co-op is successful once it opens," Miele said. "The first step in that is getting a lease on favorable terms."

The co-op also is making a push to raise the money needed to open a store next year. Miele said it will need 750 new members to purchase $100 shares by March, as well as corporate sponsorships and booster efforts from its 1,300 current members, to meet financial goals.

Once it is capitalized by supporters, two local banks have agreed to partner with the co-op on additional funding, he said.

If fundraising and lease negotiations meet the March deadline, buying and installing equipment, stocking inventory and hiring a general manager and other employees would take another two months, Miele said. The store could open in June.

— Anita Burke

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