NAI The Dunham Group Welcomes New Brokers

NAI The Dunham Group is pleased to announce the addition of two brokers to the firm. Justin Lamontange and John Dumas.

Justin Lamontagne has five years in the industry under his belt and has successfully brokered transactions in all sectors of commercial real estate. Justin is also involved in many philanthropic and professional organizations throughout Portland.

 John Dumas has recently relocated back to his home state of Maine. John has an extensive real estate background in California.                           

 The brokers can we reached at our offices: 207-773-7100 or justin@dunham-group.com and john@dunham-group.com

Recently, Howe & Howe Technologies Inc., an extreme vehicle engineering company, outgrew their shop space in Eliot, Maine. The company has since moved into much larger space at 661 Main Street in Waterboro. They leased their new 48,000± SF facility from ATA Realty Group. Tripp Corson and Greg Hastings from NAI The Dunham Group brokered the lease. 

Howe & Howe Technologies, owned and operated by identical twin brothers Mike and Geoff Howe, is best known for the development of the world’s fastest dual tracked vehicle, the ‘Ripsaw’. The ‘Ripsaw’ is an unmanned armored tank that reaches speeds up to 60 mph. The U.S. Military, in particular, has ordered this vehicle from the Howe brothers for its incredible potential to save soldiers lives. Furthering their popularity and exposure, Howe & Howe Tech recently premiered a new television series on the Discovery Channel. (Tuesday nights at 10pm) The show follows the family business as they design and build high-speed military tanks, all terrain rovers and other ingenious machines. With the help of their wives, who also happen to be sisters, the twins work intensely with their talented shop crew to meet stressful production deadlines.

Howe & Howe Technologies leased the Waterboro manufacturing space in order to immediately begin large production orders as well as with the intention to purchase the property within the next few months.

On September 25, 2009, the property at 362-382 Riverside Street, Portland was sold by the United States Postal Service to A. Hausmann Associates, Inc. (Art Girard). Greg Hastings, SIOR and Tom Dunham, SIOR from NAI The Dunham Group brokered the deal on behalf of the Seller and Buyer.

Located less than 1 mile from Exit 48 of the Maine Turnpike, the Riverside Street property consists of high bay warehouse, office, and mezzanine space totaling 80,000± SF on 9.6± acres. The owner is currently fixing up the property and offering it for sale or lease. The building is subdividable down to 9,000 SF with lease rates as low as $2.95/SF NNN. There is paved parking for over 170 vehicles. The property was originally constructed as a corporate headquarters for Nelson & Small in 1986. The USPS purchased the property in 1992 and redeveloped it for district administrative offices and a mail sorting/postal carrier division.

June 2009: Pratt & Whitney renewed their lease for 972,625± SF of manufacturing space at 113 Wells Street in North Berwick from Newkirk Seguine, L.P. Thomas Moulton, CCIM, SIOR from NAI The Dunham Group brokered the lease on behalf of Pratt & Whitney.

Pratt & Whitney, a United Technologies Corp. company, is a world leader in the design, manufacture and service of aircraft engines, industrial gas turbines and space propulsion systems. The company serves as a substantial employer for the area and has renewed their lease on a long term basis. The manufacturing and service building in North Berwick has been occupied by Pratt & Whitney for decades.

On July 10, 2009, 390 Congress Street and 385 Congress Street, Portland were sold to Metro Media Properties, LLC, whose principal is John Cacoulidis, by MTM Portland Properties, LLC. Thomas W. Moulton, CCIM, SIOR, a partner at NAI The Dunham Group brokered the deal on behalf of the Purchaser.

Located on the corners of Exchange, Congress and Federal Streets, 390 Congress Street encompasses two buildings (built in 1925 and 1945) totaling over 84,000 SF and .23 acres. Just across the street and connected to 390 Congress by an underground tunnel, 385 Congress Street (built in 1965) encompasses over 76,000 SF and 2.26 acres. 390 Congress Street has served as the center of Portland’s print media industry and was home to the Portland Press Herald and its predecessors for over 85 years.

Metro Media Properties, LLC, a New York based firm with strong ties to the area, has yet to finalize any formal redevelopment plans for the buildings. However, both buildings will undergo substantial renovations and will be part of a high quality, environmentally conscious, mixed use development. Completion time will depend on the extent of the development and necessary approvals but is slated for Fall of 2011.