February 14, 2008
Lifestyle mag buys former MBNA properties
The Rockland City Council last night voted unanimously to sell three former MBNA properties to the publisher of Maine Boats, Homes & Harbors magazine.
In a competitive bid process, the Camden-based magazine offered to pay $360,000 for the three properties at 212, 216 and 218 Main St., Rockland City Manager Tom Hall told Mainebiz this morning. Bank of America, which acquired MBNA at the beginning of 2006, donated the properties to the town last year. The city fielded other bids for the properties, but Hall said the council saw the long-term benefits of selling the properties to Maine Boats, Homes & Harbors. "Having a magazine headquartered out of your community can only be a good thing," he said.
The sale of the properties is expected to close Dec. 1, 2008, and the magazine plans to move its operations to the building at 218 Main St. in 2009, Hall said. In the meantime, the city will help current tenant Home Counselors, which owns two other buildings in the community, relocate its teen shelter, Hall said.
In a competitive bid process, the Camden-based magazine offered to pay $360,000 for the three properties at 212, 216 and 218 Main St., Rockland City Manager Tom Hall told Mainebiz this morning. Bank of America, which acquired MBNA at the beginning of 2006, donated the properties to the town last year. The city fielded other bids for the properties, but Hall said the council saw the long-term benefits of selling the properties to Maine Boats, Homes & Harbors. "Having a magazine headquartered out of your community can only be a good thing," he said.
The sale of the properties is expected to close Dec. 1, 2008, and the magazine plans to move its operations to the building at 218 Main St. in 2009, Hall said. In the meantime, the city will help current tenant Home Counselors, which owns two other buildings in the community, relocate its teen shelter, Hall said.
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