On Tuesday, the sale of the Children's Museum and Theater of Maine building was finalized and is now the property of the adjacent Portland Museum of Art building, according to the Press Herald.

The building sold for $2.1 million.

The sale of the building had been in negotiations for months, the paper reports, and now the Children's Museum will move to a new space at Thompson’s Point. Proceeds from the sale will go toward construction of the new building and its exhibitions, the paper added.

Julie Butcher Pezzino, the children museum’s executive director told the Press Herald that she thinks "It’s an exciting opportunity for both organizations, and it’s a great story for the city of Portland, keeping Congress Street as a thriving art corridor and will help progress in making Thompson's Point a family friendly place for creative activity."

The Children's Museum and Theater purchased the building on Free Street in October of 1991 and opened in 1993, according to the Press Herald. As part of the sale agreement the Children’s Museum and Theater of Maine will stay in its current location rent free for up to 20 months, the paper stated.