Local Investor Buys 740 Broadway Retail Complex

NAI The Dunham Group and Paragon Commercial Real Estate recently negotiated the sale of 740 Broadway in South Portland.  This 21,957 square foot neighborhood retail center sold to a local investor, 740 Broadway, LLC for $4,000,000. Sellers, J & J Co., LLC are also a local investment group who have owned the property since 2008, when they redeveloped the former Captain Newicks site to build this 2-building retail center. Current tenants at 740 Broadway include Tuxedo Broadway, Supercuts, Nail Co., Tropical Smoothie, CB Wireless, Greener Postures Yoga, So Po Bar & Grill, and Nothing Bakes Like a Parrot. Tom Moulton, CCIM, SIOR and Katie Millett from NAI The Dunham Group brokered the deal on behalf of the seller and Mike Anderson from Paragon Commercial Real Estate brokered the deal on behalf of the buyer.