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V O L . X X I I I N O. V M A R C H 6 , 2 0 1 7 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Bangor Daily News reported that Scott and Rena Carlin of Presque Isle have signed an agreement to sell IGA stores in Mars Hill, Fort Fairfi eld and Presque Isle to Joshua Tweedie, who runs Big Rock Transportation. e Carlins owned the stores for 18 years. IGA grocery stores are operated as retail franchises. Scott Carlin will stay on as a consultant for a year. "It was an opportunity I felt I couldn't pass up," Tweedie told the BDN. N O T E W O R T H Y N O R T H E R N & E A S T E R N Maine Trailer Inc. in Hampden re- cently opened an expanded parts showroom. kw KELLER WILLIAMS REALTY Patrick Casalinova PatrickC@KWCommercial.com 207.890.0713 Each Office is Indepentantly Owned LOCAL EXPERTISE... INTERNATIONAL REACH Featured Listing Crestholm Village at the Oxford Casion & Hotel Visit www.CrestholmVillage.com for more information Rte 26 Main St. Oxford Do I sell my business to a competitor? Or to my employees? As a firm providing wealth management services to clients, we offer both investment advisory and brokerage services, which are separate and distinct and differ in material ways. For information, including the different laws and contracts that govern, visit ubs.com/ workingwithus.©UBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. 31.00_Ad_4.375x5.5_MH0524_TenS a b You worked hard building this business, but it's time to start a new chapter in your life. We know it's complicated. Our team can help you begin the conversation around transition planning and all of the responsibilities that come with running a successful business. For some of life's questions, you're not alone. Together we can find the answer. Family Wealth Management Partners UBS Financial Services Inc. One City Center, 7th Floor Portland, ME 04101 866-791-5512 ubs.com/team/fwmp Waterville's iconic Hathaway Shirt building sold B y M a i n e b i z S t a f f W a t e r v i l l e — The Hathaway Creative Center — for many years the Hathaway Shirt Co. — sold for $20.15 million. CBRE | The Boulos Co. said the property was sold to a holding com- pany, North River Hathaway LLC. It had been on the market since August 2016. The five-story, 236,000-square- foot mill dates to 1876, when it was a cotton manufacturing and textile operation. Hathaway Shirt occupied the property from 1956 to 2002. The proper ty, which is at 10 Water St., was acquired in 2006 by Paul Boghossian and his business partner, Tom Niemann, according to the Hathaway Creative Center's website. They converted the space to Class A offi ce space and 67 modern apartments. The apartments are fully leased. Commercial tenants include MaineGeneral Health, Cengage Learning and Collaborative Consulting. The sale coincides with downtown redevelopment being led by Colby College, as reported in the Mainebiz cover story of Jan. 23. The Hathaway building's buyer, North River Co., is a New York-based com- mercial real estate development fi rm. Elsewhere in Maine, it owns Fort Andross Mill in Brunswick and, in Portland, the building that houses the law fi rm Pierce Atwood and One and Two Portland Square. This was a great time to sell, said CBRE | The Boulos Co. partner-broker Chris Paszyc. "As we've seen with a variety of investors over the last couple of years, the time to sell is now," Paszyc told Mainebiz Real Estate Insider reporter Laurie Schreiber. "The market is very good and investors are seeing this is the right time to exit." For the buyers, he said, the property is an excellent long-term hold. "Right now there's a 15-year lease with Maine General and the apartments are 100% occupied with a waiting list," he said. "It's a very stable asset." An additional upside is the approximately 30,000 square feet of vacant "warm shell" fi rst-fl oor space — with installed HVAC and a weather-tight shell — that's ripe for development, he added. Since going on the market last August, the property generated signifi cant inter- est, Paszyc said. Initial marketing went out to 8,000 qualifi ed investors across the U.S. Of that, about 2,500 expressed interest. In the end, North River Hathaway emerged as the best party based on the sellers' parameters which, in addition to meeting the price, also included a demonstrated ability to consummate the transaction, demonstrated experience in dealing with the type of asset as a multi- tenanted, mixed-use property with both residential and commercial components. The price is a signifi cant milestone, said Paszyc. "I can't think, within recent memory, of a property selling for this much money anywhere in central Maine," he said. "The closest would be $14 million for a medical offi ce property we sold in Augusta a couple of years ago." The price is a function of net operating income of the property combined with the nature of the tenants (mixed-use) and the length of term of the leases held by the major tenants, he said. B R I E F The Hathaway Creative Center in Waterville P H O T O / C O U R T E S Y O F C B R E | T H E BO U L O S C O.

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