city spirits

ATTLEBORO — Only one of three licenses for City Spirits package stores has been sold, owner Michael Foster said Monday.

Foster has two locations in Attleboro and one in North Attleboro.

The license he sold was for the store located at Park and Pleasant streets in Attleboro.

He rents the building at that site and said he only wants to be in buildings he owns.

“I just didn’t want to be a tenant anymore,” Foster said. “It didn’t make any sense.”

And he said the offer for the license, $1.4 million, was “too good to turn down.”

The deal hasn’t been finalized yet.

The Sun Chronicle reported the sale last week, but it was unclear if his other two stores, one at 524 Pleasant and another in North Attleboro at 271 East Washington St., were sold as well.

They weren’t, and Foster, 63, said he’s not getting out of the package store business.

“I’m just downsizing,” he said.

Foster owns the 524 Pleasant St. site, which was formerly a Friendly’s Restaurant, and the 271 East Washington St. site.

The license of another landmark liquor store, Castro’s County Square Beverage, also sold recently. That one went for $825,000.

Ralph and Anthony Castro will retain ownership of the real estate and rent to the new license owner.

Foster said prices for licenses are based on volume of sales.

He got into the package store business around 1989 in a store on County Street, but moved into the current site, the former Charles’ Liquors, in 1996, he said.

A check of Bizquest.com showed some other liquor licenses for package stores in the state are going from $150,000 to $495,000.

George W. Rhodes can be reached at 508-236-0432.

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