News: Northern New England
Posted: September 1, 2023
The Boulos Company brokers sale between PBMC and Knox Center LLC
Rockland, ME Pen Bay Medical Center (PBMC) has completed the sale of the Knox Center and the Bok Building to Knox Center LLC, a locally-based company. Knox Center, located at 6 White St., houses a long-term nursing care facility.
The Bok Building currently is home to the PBMC walk-in care practice as well as primary care offices and the hospital’s human resources offices. The terms of the sale allow PBMC to lease back the Bok Building, allowing the walk-in care offices to continue caring for patients while PBMC identifies and develops a new location for walk-in care. It also allows PBMC to lease back space for its laundry facility in the Knox Center.
“When we listed the properties, our goal was to find a buyer who shares our MaineHealth values, and we believe we have done that,” said PBMC president Denise Needham, PharmD. “We are confident that both the Knox Center and the Bok Building will continue to serve vital roles in Rockland and Knox County.”
Knox Center LLC issued the following statement: “Knox Center LLC has worked diligently with MaineHealth to ensure there is no disruption to any existing services. Knox Center is excited to be involved with a property that is uniquely situated to complement Rockland’s rich history and downtown revitalization.” The sale was brokered by Chris Paszyc of The Boulos Company. The facility was openly marketed and received multiple competing offers.
“Knox Center LLC provided a compelling proposal in terms of price, closing timeframes, and flexibility on transition plans post-closing,” Paszyc said.
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