The Lowell Sun (also known as Lowell Publishing Company) finalized the sale of its headquarters at the American Textile History Museum on Dutton Street today by conveying the remaining portion of its premises (Unit 1 a/k/a the “Lowell Sun Unit”) to Manchester Property Group LLC of Shrewsbury for $1,300,000. The buyer financed the sale with a mortgage of $1,040,000 from Northern Middlesex Savings Bank. Last week, the Sun sold the other portion of its headquarters, Unit 506, to a third party for $210,000.
Taking these two sales together, the Sun received a total of $1,510,000.
The Sun had purchased these two units in a single transaction back in 2007 for $2,300,000.
If my math is correct, the Sun lost $790,000 on this six year investment.