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… » Read more
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… » Read more
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.
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… » Read more
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.
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.
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.
Industrial Market Mid-Year Review
We have expanded our annual industrial market survey to include Falmouth and are now tracking nearly 20,000,000 SF of industrial real estate in Greater Portland and Biddeford/Saco. The current overall vacancy rate is 2.79% which equals only 550,000 SF of available industrial inventory over the eight cities and towns our firm studies. And of that,… » Read more
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.
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… » Read more