Developer buys historic mill for $5.1 million
WESTBROOK, Maine (AP) — A New Hampshire developer has purchased a historic Maine mill for $5.1 million.
The Portland Press Herald reported Wednesday Chinburg Properties, of Newmarket, New Hampshire, closed on the Dana Warp Mill in Westbrook earlier this month.
The 264,000-square-foot former mill is about 70 percent leased by commercial tenants.
Chinburg Properties CEO Eric Chinburg says the company will meet with current tenants and decide whether to use the open space for more tenants or convert the space into apartments.
The mill dates back to the early 1900s when it was used by Woodbury Dana for a cotton warp operation.
Real estate investor Aleksandar Cook bought the mill for $2.5 million in 2011.
Information from: Portland Press Herald, http://www.pressherald.com