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AUGUSTA, Maine - A shopping center host to multiple Maine businesses is in foreclosure and will go up for auction at the end of September.
The Kennebec Journal reports that Shaw's Plaza in Augusta is valued by the city for tax purposes at $16.4 million and generates $334,000 a year in property taxes. According to a notice announcing the auction, the mortgage holder of the building is selling the property after the owner apparently breached the conditions of a mortgage.
According to city records, the shopping center is owned by CAP Center Associates L.P. Company officials could not be reached for comment.
City records indicate the plaza was originally built in the late 1960s. It is scheduled for a Sept. 28 auction.