Fully stabilized industrial portfolio totaling 80,519± square feet. The portfolio consists of three buildings situated in two of Southern Maine’s most desirable industrial parks. The properties are all well-positioned with long-term leases ranging from 7 to 10-year terms. Two buildings have expansion potential, giving the asset opportunity for immediate value-add.
23 Washington Avenue in Scarborough, Maine is a 42,400± square foot industrial building situated on 5.24± acres with substantial land for future expansion. The property is secured by 3 Tenants – all with leases ranging from 7 to 10 years left on the term.
419 Hill Street in Biddeford, Maine is a 28,119± square foot state-of-the-art recreational grow facility that boasts laboratory-grade fit-up with one of the top-tier cannabis companies in the State of Maine. The sister location at 414 Hill Street is directly across the street and is another arm of the tenant’s medical sales and cultivation. Both leases are secured with strong guarantees and strong escalators throughout the remaining 10-year terms.
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- Property Type(s): Industrial, Investment
- Purchase: $11,990,000
- Square Footage: 10,000 - 80,519 sq ft
- Acreage: 10.18
