Maine Commercial Real Estate Sees Broad Activity Across Industrial, Office and Retail Sectors

Recent commercial real estate transactions across Maine reflect a busy market stretching from the southern coast to the northern reaches of the state, with notable sales and leases spanning industrial buildings, office space, retail storefronts, campgrounds, and undeveloped parcels.

Notable Sales

In Portland, Juniper West, LLC acquired an 8,752-square-foot building at 1026 Forest Avenue, purchasing the property from 1024-1026 Forest Avenue, LLC. Drew Sigfridson and Reese McFarlane of The Boulos Company, along with Rachel Davey of Vitalius Real Estate Group, handled the transaction.

Further north in Augusta, Riverside Drive Memorials, LLC purchased a 1,497-square-foot building along with business assets at 585 Riverside Drive from Eric S. LaCroix. Noah Stebbins of The Boulos Company and Tony Loiko of Coldwell Banker Realty represented the parties.

In Brewer, WY North Holdings, LLC bought a 6,530-square-foot building at 19 Sparks Avenue from Elto Realty, LLC, with Joe Italiaander of The Boulos Company and Elisha Hardy of Berkshire Hathaway Northeast Real Estate brokering the deal. Down the coast in Old Orchard Beach, Lim Provisions, LLC acquired a 2,702-square-foot building at 113-115 Saco Avenue from Maine Geese Properties, LLC, with Stebbins again representing the parties.

One of the largest transactions by square footage was the sale of a 105,000-square-foot property at 43 Bibber Parkway in Brunswick to 43 Bibber Parkway, LLC, purchased from Bibber Properties LLC. Frank O'Connor, TC Haffenreffer and Sylas Hatch of The Dunham Group negotiated the deal.

Land Transactions

In the land market, Wassamki Springs Campground, LLC acquired a 261-site campground spread across 77.82 acres at 56 Saco Street in Scarborough and Gorham from William A. Hillock Corp. Joe Italiaander and Nate Roop of The Boulos Company represented both sides.

Baldface Maine, LLC purchased just under an acre at Lot 56 Innovation Way in Scarborough from Crossroads Holdings, LLC. Jon Rizzo and Nate Roop of The Boulos Company handled the deal.

In Sanford, Darin Shaw bought a 37-acre parcel at 17 Airport Road from the Sheriff Family Revocable Trust, with Chris Gallagher of The Boulos Company and Kasey Jiang of Landing Real Estate brokering the transaction.

Office Sales

Portland's office market saw several transactions. Capital City Smiles & Wellness, LLC acquired a 5,050-square-foot building at 5 Caldwell Road in Augusta from Caldwell Property, with Chris Paszyc and Tripp Clark of The Boulos Company and Dennis Wheelock of Keller Williams Realty representing the parties. The University of New England purchased a 1,510-square-foot building at 74 College Street in Portland from Amelia Berry, personal representative of the estate of James E. MacDonald, with John Doyon of Malone Commercial Brokers handling the sale.

MN8 Properties, LLC bought a 3,231-square-foot office building at 502 Main Street in Gorham from Yellow Wagon, LLC, with Bryan Plourde and Tom Moulton of The Dunham Group representing the parties. In South Portland, Eight Cottage, LLC acquired an office property at 8 Cottage Road from Kirk and Lisa Wolfinger, with Greg Perry of The Dunham Group brokering the deal.

Retail and Hospitality Sales

AP01, LLC bought a 5,032-square-foot building at 59 Downeast Highway in Ellsworth from Xinsheng, LLC, represented by Roy Donnelly and Noah Stebbins of The Boulos Company.

In Kennebunkport, Matthew and Kelly Baldassarri, through Shine Holding, LLC, purchased a 5,700-square-foot inn and business at 15 Locke Street. John Doyon of Malone Commercial Brokers and Brian Castle of Oceanview Properties handled the sale.

Spurling Holdings, LLC acquired a 2,602-square-foot retail property at 772 Congress Street in Portland from 7Seventy Property, LLC, with Joe Atwood and Sam LeGeyt of The Dunham Group representing the parties.

Industrial and Warehouse Leases

Portland's industrial market saw two major lease renewals. Barber Foods, LLC renewed its lease for 91,036 square feet at 56 Milliken Street from Plymouth 56 Milliken, LLC, with Drew Sigfridson and Jon Rizzo of The Boulos Company representing the landlord. ABC Supply Interiors, Inc. renewed 28,694 square feet at 242 Riverside Street from Coku, LLC, represented by Derek Miller of The Boulos Company and Chris Armstrong of Cresa.

In Biddeford, two tenants signed on at 20 Pomerleau Street. York County Food Hub leased 7,310 square feet from Spur Park, LLC, while Maine Aqueduct, LLC leased 4,973 square feet from the same landlord.

TurbineOne, Inc. leased 6,000 square feet at 18 Wing Drive in Old Town from DGC Properties, LLC. In Scarborough, Domestiks Cleaning Service leased 4,080 square feet at 8 Washington Avenue, and ITG Communications, LLC leased 3,700 square feet at 4 Washington Avenue.

Office Leases

Portland's office leasing activity was particularly robust. Quanta Infrastructure Solutions Group leased 7,184 square feet at 280 Fore Street from Bangor Savings Bank, with Joe Malone and Luke Malone of Malone Commercial Brokers and Michele Johnson of JLL representing the parties. The Elmet Group Co. leased 9,947 square feet in the same building, represented by Justin Lamontagne of The Boulos Company and the Malone brothers.

GEI Consultants, Inc. took 5,786 square feet at 48 Free Street in Portland from J.B. Brown & Sons. New Century Hospice Delaware, LLC leased 5,548 square feet at 707 Sable Oaks Drive in South Portland from Second Portland Limited Partnership. Auto Europe, LLC signed on for 2,744 square feet at 30 Danforth Street in Portland.

Several smaller office deals clustered at 217 Commercial Street in Portland, with Black Dog Asset Management, LLC, DAF LLC, and ZWO, LLC all leasing space from Chase Block LLC, represented by Peter Harrington of Malone Commercial Brokers.

Elsewhere, Sound Rink, Inc. leased 1,455 square feet at 201 Main Street in Westbrook, while M & Son Construction took 1,100 square feet at 980 Forest Avenue in Portland.

Retail Leases

In Auburn, Cann Did Investments, LLC leased 16,900 square feet at 550 Center Street from Auburn Plaza, Inc. In South Portland, 465 TS Portland, LLC leased 6,350 square feet at 465 Maine Mall Road from New Gen Estates, LLC.

Portland's Forest Avenue corridor saw two leases at 509 Forest Avenue: Portland Media Center subleased 5,500 square feet, and Evergreen & Pine, LLC leased 2,322 square feet, both from DC 509 Lofts MT, LLC.

Other retail activity included Into The Rift, LLC leasing 2,500 square feet in Biddeford, BeMobile, Inc. taking 2,050 square feet in Scarborough, and NBT Bank, National Association leasing 2,000 square feet at 72 Market Street in Scarborough. In Ogunquit, Scrub It, LLC leased 758 square feet at 309 Shore Road from Thompson Green Partnership.