Waterville’s former Hathaway shirt mill sold for more than $20 million after a developer renovated the building into office and apartment space on the city’s riverfront.
Brokerage CBRE The Boulos Co. reported Thursday that the New York real estate firm North River Co. purchased the redeveloped Hathaway Creative Center. The 236,000-square-foot mill property was first listed for sale in August 2016, with 83 percent of the building leased.
The property includes office space and 67 apartments near the city’s downtown. The building houses office space for MaineGeneral Health, Cengage Learning and Collaborative Consulting, according to CBRE.
Manufacturer Hathaway Shirt shuttered the plant in 2002 and the group that redeveloped the property purchased it in 2006. That group included Colby College alumnus Paul Boghossian and Niemann Capital LLC.
The purchase adds to North River Co.’s real estate portfolio in Maine. The New York firm in 2015 bought two downtown Portland office properties for $66 million and owns space in Brunswick’s Fort Andross Mill and on Portland’s waterfront.