BANGOR, Maine — The sale of the Bangor Publishing Company’s building on Main Street to an affiliate of Ocean Properties has fallen through, Bangor Daily News Publisher Richard J. Warren said Monday.
Bangor Publishing Co., which owns the Bangor Daily News, last week signed an agreement to sell the company’s headquarters to the hotel development company. The purchase and sale agreement was made with BanRes LLC, a Portsmouth, N.H.-based subsidiary of Ocean Properties Ltd. The sale price was not disclosed.
“Ocean Properties couldn’t make the numbers work, to my great chagrin,” Warren said Monday. “We will be looking for other opportunities.”
Attempts to reach BanRes LLC and Ocean Properties for comment Monday evening were unsuccessful.
Ocean Properties, based in Delray Beach, Fla., owns more than 140 hotels and resorts in North America. It owns several properties in Bar Harbor, including the Harborside Hotel and Marina, the Regency Hotel, West Street Hotel, Days Inn, Ledgelawn Inn and Park Entrance Motel. It also owns the Samoset Resort in Rockport.
The BDN building was constructed in the early 1950s. The 64,000-square-foot building housed the newspaper’s presses until the early 1990s, when the BDN opened its current production plant in Hampden.