Dunham in the News
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What’s trending in commercial development in 2021?
What’s trending in commercial development in 2021? These local experts talk about development with purpose, retail reboot, big box to industrial (from Justin Lamontagne), and more. Read the Mainebiz story here.
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Skowhegan Savings to Open Portland Business Center on Marginal Way
Skowhegan Savings Bank will open its’ new Portland Business Center at 287 Marginal Way. The space will undergo a full renovation and is expected to open in April. The new location will cater to the bank’s growth in the southern Maine commercial sector. 287 Marginal Way provides easy access just off I-295, with dedicated parking…
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North River Roque, LLC Acquires 5 Bradley Drive for $22.75 Million
Congratulations to North River Roque, LLC on the acquisition of this 126,072 square foot property in Westbrook’s Five Star Industrial Park for $22.75 million. The property is 100% leased on a triple-net basis to Abbott Laboratories. TC Haffenreffer and Sylas Hatch from NAI The Dunham Group represented North River Roque, LLC. Jon Rizzo and John…
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MaineHealth Purchases 340 County Road, Westbrook from Husson University
MaineHealth purchased this 34,587 SF building in Westbrook from Husson University for $4.65 million. Justin Lamontagne, CCIM, SIOR represented MaineHealth in the sale and says the search was started a few years ago. This building finally checked all their boxes. “It’s a single-story standalone flex building that lends itself to a lot of different potential…
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Join Ducas Construction at their new headquarters in The Downs’ Innovation District
Join Ducas Construction at their new headquarters in The Downs’ Innovation District! 4,000 – 8,000 SF of office and warehouse space for lease. Contact Sam LeGeyt for more information. Read the Mainebiz article about the sale of the lot and Ducas’ plans to build a 12,000 SF office and warehouse building.
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Vermont firm Redstone Looks to Expand Footprint in Maine
Mainebiz: Do you have other acquisitions in mind for Maine? Joe Engelken of Redstone: Always! Before we even got to the closing table I was bugging Sylas [Hatch] to find me another deal. As I mentioned, we’re focused on growing our portfolio in Maine. Having a good relationship with brokers like Sylas and the NAI Dunham…
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1004 Congress Street Latest Building Added to PK Realty’s Portfolio
“Our process is Tom Moulton,” Packard said. Great article highlighting Tom & Katie’s client relationship with PK Realty, who recently acquired another Libbytown property at 1004 Congress Street. Read the full article at Mainebiz.
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Exchange Block in Downtown Bangor for Sale
The Exchange Block in Bangor is available for sale as a 4-building package or individually. Contact TC Haffenreffer or Sylas Hatch for details. Read the Mainebiz article here.
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Large Industrial Building at 203 Read Street sold for $10 Million
187–209 Read Street LLC purchased this large industrial property at 203 Read Street from Brockway-Smith Co. for $10 million. Tom Dunham, SIOR, Greg Hastings, SIOR, Sylas Hatch, and TC Haffenreffer brokered the sale. The building is now available for lease. Read the Mainebiz article here.
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American Roots Expands at Dana Warp Mill
American Roots recently leased an additional 6,500± SF of manufacturing space at the Dana Warp Mill, bringing their total space to 20,000± SF. This expansion comes after an incredibly successful pivot of their manufacturing efforts toward PPE. See the story featured in this Mainebiz article.
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242,000 SF Facility at 7 Rand Road Sold to Brockway-Smith Company
Tom Dunham, SIOR & Greg Hastings, SIOR represented the buyer, Brockway-Smith Company, on the sale of 7 Rand Road in Portland. This 242,000 SF facility sold for $12.8 million on April 1st. Brockway Smith will renovate the building and relocate to the facility. The property will be used for manufacturing and distribution of Brosco products…
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“The Great Pause”
Read this thoughtful perspective on Maine’s commercial real estate market today, written by our designated broker Justin Lamontagne, for the New England Real Estate Journal.
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Realities of the Market Today
Over the past year, the real estate market has been hot. Tom Moulton was one of the brokers on the $18.1 million transaction of 600 Sable Oaks Drive in South Portland that closed just before the COVID-19 emergency began. In this Mainebiz article, Tom and other brokers weigh in on the realities of the market today.…
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Johnson & Co. will move into new headquarters with the sale of 180 US Route One in Scarborough
Scarborough accounting firm Johnson & Co. will move into new headquarters with the sale of 180 US Route One in Scarborough. Tom Moulton, CCIM, SIOR and Katie Allen Millett represented the seller in this transaction. “It’s a perfect owner-user play,” Katie said. “The owner will occupy the smaller suite and lease out the remainder of the…
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Southern Maine’s Industrial Real Estate Market has Been Historically Consistent
“Until the last two weeks, the industrial market in Southern Maine was humming along and I wrote the article below to reflect that. However, like the rest of the world, things have dramatically changed quickly. My sense is we will have at least a one to two month “pause” on the market. But once things…