Cross Insurance buys Bangor Daily News building
The Bangor Daily News has sold its Main Street headquarters to Cross Insurance.
The sale will allow the insurance company to move its 75 Bangor employees from its Gilman Road building to the nearly 63,000 square-foot building on Main Street, according to a press release. The BDN is currently in the process of finding a new home while the two companies share office space for several months. The sales price is not being disclosed.
With the new Cross Insurance Center across the street, the move will help enhance its brand, said Royce Cross, the company’s CEO who has been named by Mainebiz as one of the 2014 Business Leaders of the Year. “We look forward to working with the dedicated staff of the Bangor Daily News to ensure a seamless transition as we relocate our headquarters,” he said.
The newspaper was poised to sell its building to a hotel company last year until the deal fell through shortly after. Around that time, BDN Publisher Richard Warren said the company was only using between 50% and 60% of its 491 Main St. building, where it has been since 1954.
Cross will be honored at Mainebiz’s 2014 Business Leaders of the Year Reception on May 8 at the Portland Country Club in Falmouth.
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