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 LifeStance.
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 & Wakefield to represent the landlord, insurance provider Unum. The building is set to undergo a capital improvement program that will include the build-out of a fitness center and micro-market.
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 Whiting-Turner is the general contractor. The community is slated to open in summer 2021.
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 offers four-bedroom units alongside shared amenities including a study lounge, clubhouse, game room, state-of-the-art fitness center, basketball and volleyball courts and an outdoor grilling station. The borrower was undisclosed.
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 of The Dunham Group represented Work Out Anytime.
PORTLAND, MAINE — A partnership between Capstone Development Partners and the University of Maine System will develop a 577-bed residence hall and student center on the University of Southern Maine’s (USM) campus in Portland. The proposed 209,000-square-foot community will offer apartment-style units alongside academic support space. The partnership hopes to break ground on the project in spring 2020, with Capstone providing financing for the student housing component and the university providing financing for the student center. The design-build team for the community includes architectural and engineering firm SMRT Architects and Engineers, architectural firm Elkus Manfredi Architects and general contractor PC Construction. Capstone Management Partners, the management subsidiary of Capstone Development, is the proposed maintenance and operations provider for the community upon completion.
HALLOWELL, MAINE — Senior Living Investment Brokerage (SLIB) has arranged the sale of Granite Hill Estates, a continuing care retirement community in Hallowell, a southern suburb of Augusta. Granite Hill Estates features 46 independent living cottages, 60 independent living apartments and 24 assisted living/memory care units. The independent living portion was built in 2000 and assisted living was added in 2006. MaineGeneral Health sold the property to a regional owner-operator for an undisclosed price. Toby Siefert and Bradley Clousing of SLIB handled the transaction.
PORTLAND, MAINE — CBRE has brokered the $20.8 million sale of Bayside Village, a 101-unit apartment community in Portland, located approximately 60 miles south of Augusta. Located at 32 Marginal Way, Bayside Village comprises a five-story residential building with 3,300 square feet of ground-floor retail space. Amenities include bike storage, a resident lounge, business center with print station, laundry facility, outdoor space and a billiards room. The property previously served as a student housing community. The buyer, Port Properties, plans to upgrade the property to increase the overall unit count to 206 residences. Simon Butler and Biria St. John of CBRE, along with Dan Greenstein of The Boulos Company, represented the seller, Blue Vista. The CBRE team worked with Joe Porta of Porta & Co. to procure Port Properties as the buyer.
PORTLAND, MAINE — Koucar Management, a Michigan-based developer, has broken ground on a 102-room hotel in Portland, a city about 55 miles north of Augusta. The property is a Cambria-brand hotel from Choice Hotels International, a Maryland-based international hotel franchisor. Amenities include an indoor-outdoor rooftop bar, 2,000 square feet of event space, fitness center and a restaurant and bar. The hotel is slated to open in 2021.
PORTLAND, MAINE — Cardente Real Estate has negotiated the sale of Brighton Avenue Plaza, a 24,150-square-foot retail center located at 1041 Brighton Ave. in Portland, for approximately $3 million. Greg Perry of Cardente represented the buyer, All-American Family LLC, in the transaction. Charles Day of Porta & Co. represented the seller, 1041 Brighton Ave. LLC. The property was built in 1988.