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December 3, 2008

Portland Public Market sold

By The Mainebiz News Staff

A Portland business that is one of America's 500 fastest-growing private companies has purchased the Portland Public Market.

PowerPay, which processes electronic payments for businesses and was named a fast-growing company by Inc. magazine, purchased the downtown property and an adjacent parcel for $340,000 in an auction held Tuesday, according to the Portland Press Herald. The company plans to use the sprawling building, which was opened in 1998 by the Libra Foundation, as office space for up to 200 workers. The other parcel, a half-acre lot a few blocks away that was the site of the failed Waterview condominium project, will be used as temporary parking for PowerPay's employees.

The sale marks a new chapter for the public market, which closed in 2006 and was assessed at $470,200 by the city.

 

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