The former Salvation Army store in Williamsburg has been sold and developers have big plans for the site. 

Thor Equities signed a contract to purchase the Bedford Avenue property, which is currently under construction and has more than 14,000-square feet of rentable space. 

The company plans to turn it into a multi-floor retail facility and says it has a lot of potential. At least one small business told News 12 that it's excited about the project, but many others in the area are not. 

The Salvation Army declined to comment on the purchase.