REBusinessOnline

Stan Johnson Co. Brokers $11.8M Sale of Office Building in Portland, Maine

PORTLAND, MAINE — Stan Johnson Co. has brokered the $11.8 million sale of an 80,683-square-foot office building in Portland. The three-story property was originally built on 18.3 acres in 1974 and was leased to a single tenant, Consolidated Communications, at the time of sale. Chris Adams and Jim Gibson of Stan Johnson Co. represented the seller, Vermont-based developer Pizzagalli Properties, in the transaction. Josh Soley of Maine Realty Advisors represented the buyer, an undisclosed …

Alliant Credit Union Provides $16.5M Acquisition Loan for Two RV Parks Near Portland, Maine

WELLS, MAINE — Alliant Credit Union has provided a $16.5 million acquisition loan for a pair of adjacent RV parks in Wells, a suburb of Portland. The properties were fully occupied at the time of sale and feature shared amenities such as a clubhouse, pool, fitness center and a basketball court. Matt Gentile of Monroe & Giordano placed the loan, which was structured with a five-year term and a 30-year amortization schedule, with Alliant. The borrower was not

Local Developer Breaks Ground on Office Project for Sun Life in Portland, Maine

PORTLAND, MAINE — Portland Foreside Development Co. has broken ground on an office project for financial services provider Sun Life in the city’s downtown area. The waterfront building will house as many as 700 employees of Sun Life and its subsidiary FullscopeRMS, which expect to have a total footprint of about 77,000 square feet. The property will also feature retail and restaurant space, as well as public plazas. Completion is slated for

Fantini & Gorga Arranges $7.5M Loan for Refinancing of Multifamily Asset in Auburn, Maine

AUBURN, MAINE — Boston-based mortgage banking firm Fantini & Gorga has arranged a $7.5 million loan for the refinancing of Auburn Mall Apartments, a 168-unit multifamily asset in Auburn, located north of Portland. The property was built in phases during the 1980s and features one- and two-bedroom units. Derek Coulombe and Ryan Maddaluna of Fantini & Gorga placed the debt on behalf of the undisclosed borrower, a Maine-based developer and investor. An agency lender provided the …

Power REIT Acquires Cannabis Cultivation Facility in York County, Maine

YORK COUNTY, MAINE — A subsidiary of New York-based Power REIT has acquired a three-acre site in York County that houses a 32,800-square-foot cannabis cultivation facility that is under construction. Locally based cannabis grower Sweet Dirt is the operator of the greenhouse, which is expected to be complete by the end of the year. The site also houses a 2,800-square-foot distribution building. The seller was not

Cardente Negotiates 5,618 SF Office Lease in Portland, Maine

PORTLAND, MAINE — Locally based brokerage firm Cardente Real Estate has negotiated a 5,618-square-foot office lease at 11 Baxter Blvd. in Portland. Matthew Cardente of Cardente Real Estate represented the landlord, the William C. Rowell Family LP, in the lease negotiations. Derek Miller of The Boulos Company represented the tenant, behavioral healthcare provider

BerryDunn Signs 87,906 SF Lease for New Office Headquarters in Portland, Maine

PORTLAND, MAINE — Accounting and consulting firm BerryDunn has signed an 87,906-square-foot office lease for its new headquarters at 2211 Congress Street in Portland. The company will relocate from 100 Middle Street, where it has operated for the last 30 years, beginning in early 2021. Chris Paszyc and Jessica Estes of The Boulos Company represented BerryDunn in the site selection and lease negotiations. Drew Sigfridson, Craig Young and Jon Rizzo of Boulos worked with Tim Stewart of Cushman …

Confluent, Harbor Break Ground on 123-Unit Seniors Housing Community in Portland, Maine

PORTLAND, MAINE — A partnership between Confluent Senior Living and Harbor Retirement Associates has broken ground on HarborChase of South Portland, a 123-unit seniors housing community in Portland. Located at 165 Running Hill Road, the 116,000-square-foot community will offer 83 assisted living units and 40 memory care apartments in one- and two-bedroom floorplans. Amenities will include multiple restaurants, a barbershop and a fitness center. EGA Architects is designing the project, and …

Tremont Mortgage Provides $18.1 Million Refinancing for 576-Bed Student Housing Community Near University of Maine

ORONO, MAINE — Tremont Mortgage Trust has provided an $18.1 million loan for the refinancing of Orchard Trails, a 576-bed student housing community located near the University of Maine in Orono. The floating-rate loan includes an initial funding of approximately $17 million and a future funding allowance of approximately $1.1 million for property improvements. The loan is structured with a three-year initial term and two one-year extension options. Originally built in 2006, the community …

Cardente Negotiates 8,443 SF Retail Lease for Fitness Concept in Portland, Maine

PORTLAND, MAINE — Cardente Real Estate has negotiated an 8,443-square-foot retail lease for Work Out Anytime fitness center in Portland, located approximately 60 miles southwest of Augusta. The property is situated at 511 Congress St. within the Ocean Gate Plaza retail center. Tenants include Living Room Dance Collective, Northwestern Mutual and nonprofit organization EqualityMaine. Matthew Cardente of Cardente represented the landlord, Ocean Gate LLC, in the lease negotiations. Sylas Hatch …

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