PowerPay exec buys Biddeford's Riverdam Mill
The CEO of the Portland electronic payment-processing company has purchased the Riverdam Mill in Biddeford.
Stephen Goodrich, CEO of PowerPay LLC, bought the four-acre property at auction for $500,000, according to the Portland Press Herald. The deal follows his recent $2 million purchase of the former Portland Public Market building and a nearby parcel, which Goodrich plans to use as office space and parking for up to 200 workers.
Goodrich, who has invested in several Portland real estate transactions over the last decade, said the mill deal is unrelated to his company, the paper reported. He plans to add to the mill's existing 32 mixed-use tenants, demolish several smaller buildings and convert a six-story building on the Saco River to housing. The 330,000-square-foot Riverdam Mill previously was owned by Steven Sobol, who purchased it in 2005 for $945,000.
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