By Laurie Schreiber, Mainebiz
North Yarmouth Academy said it would expand student housing into a 17,600-square-foot commercial building it recently acquired for $5.25 million.
The private school bought 350 U.S. Route 1 in Yarmouth from 103 LLC.
Charles W. Day at Porta & Co. represented the buyer and Josh Soley of CORE represented the seller. The deal, which closed May 20, was the result of an off-market listing.
North Yarmouth Academy plans to redevelop the property, which is less than a mile from its 148 Main St. campus, to expand student and faculty housing. The initiative is expected to allow the academy to attract students from around the country and the world and to develop new programs.