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September 11, 2017

Foreclosed Augusta shopping center scheduled for auction

Courtesy / Tranzon
Courtesy / Tranzon
This Augusta shopping center, which is home to Shaw's Supermarket and multiple other businesses, is in foreclosure and will go up for auction at the end of September.

An Augusta shopping center that is home to Shaw's Supermarket and multiple other businesses is in foreclosure and will go up for auction at the end of September.

The Kennebec Journal reported that the Capitol Shopping Center in Augusta is valued by the city for tax purposes at $16.4 million and generates $334,000 a year in property taxes. According to a notice announcing the auction, the mortgage holder of the building is selling the property after the owner apparently breached the conditions of a mortgage.

According to city records, the 196,000-square-foot shopping center is owned by CAP Center Associates LP.

Company officials could not be reached for comment, the newspaper reported.

City records indicate the plaza was originally built in the late 1960s. It is scheduled for a Sept. 28 auction handled by Tranzon.

Other tenants of the complex, according to Tranzon's notice, include Big Lots, Dollar Tree, Anytime Fitness and Applebee's.

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