Commercial Real Estate News – Portland, Maine
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10th Annual Industrial Market Survey
Our 10th Annual, 2021 Greater Portland Industrial Market Survey is now available! Download your copy here.
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Construction Underway – Class A Industrial/Flex Building
Construction underway on a new Class A Industrial/Flex building at The Downs! Join Ducas Construction. 4,000 – 8,000 SF available and ready for occupancy June/July 2021. Contact Sam LeGeyt –
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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
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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
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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
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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
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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
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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
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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.
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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
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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
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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
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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