Mainebiz

V O L . X X I I I N O. X V J U LY 1 0 , 2 0 1 7 8 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 will receive Tax Increment Financing and Aff ordable Housing Tax Credits. Szanton is working with architectural fi rm Platz Associates, of Auburn, on the building design. e site has been vacant since an arson fi re more than a decade ago. N O T E W O R T H Y C E N T R A L & W E S T E R N Wayfair, an online home furniture and décor retailer, is working with the Travis Mills Foundation to design and furnish an injured veterans' retreat in Rome. The 11,000 square-foot facility will allow injured veterans and their families to come together during the summer to form connections with others who are experiencing similar challenges. U.S. Sen. Susan Collins said that the city of Lewiston was awarded $3 million in Lead Hazard Reduction Demonstration grant funding and $400,000 in Healthy Homes Supplemental funding. The city will use the funding to help address lead hazards in 220 housing units, providing safer homes for low- and very low- income families with children. U.S. Sens. Susan Collins and Angus King announced that the Fryeburg Fire Department received an Assistance to Firefi ghters Grant of $230,101, while the Chelsea Fire Department received $19,810. Norway Savings Bank presented the Bath Area Family YMCA with a $10,000 pledge to support the purchase of the building where the new Landing Y in Brunswick is located and also to create spaces for new innovative programs by renovating its fl agship facility in Bath. Yachting Solutions' partnership 'a win-win' Yachting Solutions, a yacht services provider in Rockport, will partner with Yarmouth Boat Yard/Moose Landing Marina to expand exposure and leverage products and services for each company. e partnership will allow Yachting Solutions to help Maine Med will consolidate back offi ce operations at Westbrook site B y L A U R I E S C H R E I B E R W E S T B R O O K — Maine Medical Center's purchase of Westbrook's largest offi ce building — six stories and 130,726 square feet — allows the health care provider to consolidate information services and other administrative functions that are currently spread across eight offi ce locations. One Riverfront Plaza, which dates to 2004, sold for $10.75 million, according to Malone Commercial Brokers, which represented the buyer. The deal closed June 8. Maine Med purchased the property from U.S. Bank, which acquired the property in a foreclosure auction earlier this year. A previous owner paid $23.5 million for it in 2005 and defaulted on a $20 million loan, according to news accounts and court records. Charlie Craig from NAI The Dunham Group and David Ross from NAI Hunneman represented the seller and Joe Malone, Mark Malone and Jennifer Small from Malone Commercial Brokers represented the buyer. The property, which is on the Presumpscot River, was on the market for about a month. It was put on the market as a bidding opportunity, without an asking price. "We had multiple bids on it," Craig said. "We had inter- est from owner-users — companies that would occupy the building — and we had offers from investors inter- ested in buying the building and then leasing it out." Well-appointed building, with highway access The property's advantages include excellent highway access, just two miles from I-95, Route 25 and Route 202, and proximity to bus and train transportation. Amenities include a tenant fi tness center, employee cafeteria and outside patio. A pedestrian bridge con- nects the site to restaurants and shops in downtown Westbrook. There's also a leasehold interest in an adjacent city-owned 540-space parking garage. One Riverfront Plaza was one of the few Class A offi ce buildings that had 100,000 square feet of contiguous space available in a corporate headquar- ters setting. Most recently, the building was leased to Disability RMS. The building was vacant for a year, but is in excellent condition. Bringing together Maine Med's information services team in one location will increase operating effi ciencies and benefi t providers, nurses and patients. Maine Med Executive Vice President and COO Jeff Sanders told Mainebiz the information services team serves all members and affi liates of MaineHealth, including Maine Med. About 450 employees are on the IS team, and all will move into the building. For now, they're spread among eight locations in the Portland area. "Getting them closer together so they can work more collaboratively will be helpful," Sanders said. Maine Med had been looking for a location to con- solidate IS off and on for a couple of years — either buy- ing something that was purpose-built, or building new. "This happened to be available, and it was the right fi t," he said. Outfi tting the space will be kept to a minimum and will likely involve furnishings and wiring upgrades for IS functions, he said. Although Maine Med had set aside $7 million for rehab, that was a high-end esti- mate and it's unlikely that costs will come anywhere close to that, Sanders said. The goal is to be in place by the end of 2017. It's unlikely the move will result in additional hiring, he said. B R I E F P H O T O / C O U R T E S Y N A I T H E D U N H A M G RO U P One Riverfront Plaza, Westbrook's largest offi ce building, sold for $10.75 million. Maine Medical Center, the buyer, will use the space to consolidate offi ces M I D C O A S T & D O W N E A S T

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