MCL Realty LLC, a portfolio company of Anania & Associates Investment Company LLC (AAI), is pleased to announce the sale of its industrial building located at 33 Main Street to the Town of Windham, Maine.
The Town’s Need for a New Building
Peter V. Anania, President of AAI, comments: “The Town of Windham realized the opportunity the 13,000 square foot building presented for its Southernmost Fire Station. The current 3,220 square foot building is aging and not large enough for the growing town.”
The location of the town’s South Windham fire station is critical for the town due to its proximity to neighboring Gorham. This location allows the town to share resources as well as train with Gorham. The new building, which is a tenth of a mile from the current one, will allow the town to keep its proximity to Gorham while giving the town more space.
Details of the Sale
Sale of the property was completed on September 26th for seven hundred thousand dollars. The Town had previously considered leasing the space but the decision was made to purchase due the amount the town intended to invest in the building.
MCL Realty LLC will continue to hold the remaining buildings and property in the 13 acre industrial park, which houses AAI’s portfolio companies mWAVE Industries LLC and TrakTec LLC. The industrial park also has storage used by another Windham business not associated with AAI.
Planned Upgrades by the Town
The Town plans on making several renovations to the building including configuring a portion of the office space to become a training center. The Town will also be adding several bay doors to the building to accommodate fire trucks and will be upgrading the septic tank.
About Anania & Associates Investment Company LLC
Anania & Associates Investment Company LLC (AAI) is a Maine based and focused private equity firm that partners with management teams acquiring and building companies with a high potential for growth. Founded in 2008 the fund currently has 8 portfolio companies representing over 350 employees and $70 million in revenue. AAI is a long term, regionally focused investor focused on supporting sustainable growth for its portfolio companies which include: Biovation II LLC, Elmet Technologies LLC, Grow-Tech LLC, Lighthouse Imaging LLC, MEGA Industries LLC, mWAVE Industries LLC, Synergistic Software Solutions LLC & TrakTec LLC.