F.O. Bailey Real Estate

"49 Spring Street exemplifies exactly the type of asset we seek to own — a fully leased, clinically essential outpatient facility anchored by the leading health system in its market," said the buyer.

The shopping center, on 9.2 acres, was built in 1953 on the U.S. Route 1A corridor between Bangor and tourism hotspots that include Mount Desert Island, Acadia National Park, the Blue Hill Peninsula and Downeast destinations.

The plan is to invest hundreds of thousands of dollars over the next several months to upgrade building systems and improvements like a new boiler, siding and roofing.