Commercial Real Estate News – Portland, Maine
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Boy Scouts of America Sells 131 Johnson Road Property in Portland
We recently negotiated the sale of a 13,907 SF office property at 131 Johnson Road in Portland, Maine. Pine Tree Council, Inc. (Boys Scouts of America) sold the property, which was originally developed as their corporate headquarters and retail store in 2006. New owners, 440 Western Avenue Associates, LLP plan to redevelop the property into…
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Disability RMS Finds New Home at 300 Southborough Drive
Disability RMS, the nation’s leading provider of turnkey disability risk management products and services, recently signed a 65,000+ SF lease at 300 Southborough Drive in South Portland.
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Molnlycke Health Care Breaks Ground on Wiscasset Expansion
We recently negotiated a sale leaseback for the 40,000± SF Molnlycke Health Care building in Wiscasset. The property, located at 11 Twin Rivers Drive will undergo a significant expansion totaling 32,000± SF to house more of the company’s manufacturing processes.
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Brad Moll Joins Our Industrial Team
We are pleased to announce a new addition to our industrial brokerage team. Brad Moll joins The Dunham Group after spending the last 22 years in the construction and property management industries.
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Casco Bay Steel Purchases 114,720 SF Industrial Complex
Casco Bay Steel recently purchased a 114,720 SF industrial complex on 12.88 acres from P & W Real Estate Corporation at 1 Runway Road in South Portland. Tom Dunham, SIOR brokered the sale, which closed on April 1st.
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Maine Veterans Homes Purchase Land For New Headquarters
30 acre site sold to Maine Veteran’s Homes by Skowhegan Savings Bank at 450 Civic Center Drive in Augusta. Frank O’Connor, CCIM, SIOR brokered the sale, which closed on April 1st. Maine Veteran’s Homes will use the land to build a 25,000 SF administrative headquarters.
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2-year Site Search and Analysis Leads Synergent to the Right Space
Synergent leases space at Pineland Office Campus for it’s new data processing and operations space need. Justin Lamontagne completed a 2-year site search and property analysis for Synergent leading to a 5,155 SF lease with plans to expand up to 15,000 SF over four years.
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Industrial Market Review & 2014 Forecast
Justin Lamontagne presented the Southern Maine Industrial Review & 2014 Forecast at MEREDA’s Annual Conference. See the full presentation here.
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Mark Sandler Earns NAR Broker Price Opinion Resource Certification
Mark Sandler has earned the nationally recognized Broker Price Opinion Resource certification.
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Mid Coast Hospital to Anchor Highland Green Commercial Development
10,906 SF medical office building to house Mid Coast Medical Group’s Topsham Adult Care Office.
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Real Estate Terminology
Deed vs. Title? Appraised value vs. Assessed value? Right-of-way vs. Easement? Click Here To Read Article
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Starbucks to Open Second Old Port Location
Starbucks leased 2,031 SF at 145 Commerical Street to open its second Old Port location.
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1031 Tax Deferred Exchange
What impact will changes to the tax code have on commercial real estate investors? In Justin’s most recent MaineBiz column, he discusses this tax sheltering tool and why he expects it to grow in popularity in 2013 and beyond. READ HERE
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NNN? MG?
The difference between a triple net (NNN) and a modified gross (MG) lease is one of the most misunderstood concepts in commercial real estate. In his most recent MaineBiz column, Justin Lamontagne explains in simple terms what you need to understand before signing a lease. READ HERE
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Greater Portland Office Review
Katie Allen and Tom Moulton, CCIM, SIOR recently created a review summarizing the current state of the Greater Portland Office Market. The review discusses leasing, investment, owner occupied properties and new developments as well as an outlook with 2012/2013 predictions.