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… » 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

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

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