Maine

RAM Cos. Sells 136-Unit Apartment Complex in South Portland, Maine

by Amy Works July 28, 2017

SOUTH PORTLAND, MAINE — The RAM Companies has completed the disposition of RiverPlace, an apartment complex located at 1 River Place Drive in South Portland. RiverPlace Properties LLC acquired the 136-unit property for an undisclosed price. Situated on 11 acres, the four-building complex features apartments with private decks and central A/C, a waterfront pool, tennis courts, a clubhouse with fitness center, a private dock for canoes and kayaks, gated access and covered parking. Simon Butler of CBRE represented the seller, while Jim Harnden of Harnden Commercial Brokers represented the buyer in the transaction. RiverPlace was opened by developer Howard A. Goldenfarb and his team at RAM in 2003.

July 28, 2017

Maine Northeast Restaurant Retail

Cardente Real Estate Brokers 2,500 SF Restaurant Lease in Old Orchard Beach, Maine

by Amy Works June 8, 2017

OLD ORCHARD BEACH, MAINE — Cardente Real Estate has arranged the lease of restaurant space at 15 E. Grand Ave. in Old Orchard Beach. Robert Kelly and Lori Gramlich leased the 2,500-square-foot space from HPH Holdings LLC. Mark Sandler of Cardente Real Estate represented the landlord, while Karen Rich, also of Cardente Real Estate, represented the tenants in the transaction.

June 8, 2017

Maine Northeast Restaurant Retail

Cardente Real Estate Brokers Lease of 3,092 SF Restaurant Space in Maine

by Amy Works June 6, 2017

WINDHAM, MAINE — Cardente Real Estate has arranged the lease of 3,092 square feet of restaurant space in Windham. C2 Realty, a New York-based Japanese restaurant group, will occupy the space at 818 Roosevelt Trail. The landlord is Joy Real Estate of Lisbon LLC. Mark Sandler of Cardente Real Estate brokered the transaction.

June 6, 2017

Maine Northeast Retail

Cardente Arranges $337,000 Sale of Retail Building in Rockland, Maine

by Haisten Willis April 21, 2017

ROCKLAND, MAINE — Cardente Real Estate has arranged the sale of a retail building located at 166 Camden St. in Rockland. Rockland LLC purchased the former Wendy’s location for $337,000. The 2,887-square-foot building sits on 0.9 acres of. Doug Erickson of The Masiello Group represented the seller, Blackstone Properties, and Michael Cardente of Cardente Real Estate represented the buyer.

April 21, 2017

Maine Northeast Office

Time Management Buys 114,017 SF Office Building in Portland, Maine

by Amy Works February 9, 2017

PORTLAND, MAINE — Time Management Corp. has acquired a four-story office building located at 82 Running Hill Road in Portland. Dead River Co. sold the 114,017-square-foot asset for an undisclosed price. Fairchild Semiconductor and Dead River Co. occupy the building, which was developed in 1987. CBRE | The Boulos Co. represented the seller, while Tom Moulton of NAI The Durham Group represented the buyer in the deal.

February 9, 2017

Maine Northeast Retail Rhode Island

Horvath & Tremblay Completes Two Retail Sales in Rhode Island, Maine Totaling $4M

by Amy Works January 19, 2017

PROVIDENCE, R.I., AND PORTLAND, MAINE — Horvath & Tremblay has arranged two retail property sales totaling $4 million in Providence and Portland. In the first deal, an undisclosed investor purchased a 10,920-square-foot retail property located in Providence for $2.5 million. Family Dollar occupies the property under a new 10-year double-net lease with six five-year extension options. Bob Horvath, Todd Tremblay and Brian Ahrens of Horvath & Tremblay represented the undisclosed seller in the transaction. In the second deal, an undisclosed buyer acquired the ground lease to a freestanding restaurant property located on Riverside Street in Portland for $1.5 million. Burger King fully occupies the 2,622-square-foot building and has more than 12 years remaining on its original 20-year ground lease. Horvath, Tremblay and Ahrens represented the buyer in the transaction. The name of the seller was not released.

January 19, 2017

Maine Northeast Office

FD Stonewater to Acquire, Redevelop Office Facility in Augusta, Maine

by Amy Works January 17, 2017

AUGUSTA, MAINE — FD Stonewater has been awarded the exclusive rights to negotiate a 30-year lease contract with the State of Maine Bureau of General Services to acquire and redevelop the Maine Department of Transportation facility located at 109 Capitol St. in Augusta. Situated on 9.2 acres, the property features eight connecting buildings and other out-buildings. FD Stonewater plans to demolish the existing structures and construct an 89,000-square-foot facility for the Department of Health & Human Services. Construction is slated to begin in mid-2017. Alexandria, Va.-based HGS Architects and Maine-based Mark Mueller Architects are providing architectural services and Landry/French is serving as general contractor for the project.

January 17, 2017

Maine Northeast Restaurant Retail

Willows Pizza to Open Location at Former SoPo Bar and Grill in South Portland, Maine

by Amy Works October 13, 2016

SOUTH PORTLAND, MAINE — David Lengyel, owner and chief caretaker of Willows Pizza, has leased the former SoPo Bar and Grill space at 740 Broadway in South Portland. SoPo Bar and Grill, which had been in operation since 2014, suddenly closed last week. Lengyel plans to relocate Willows Pizza from 1422 Broadway to the new 8,800-square-foot location and will be opening for business in November. Additionally, Lengyel plans to re-hire as many former SoPo employees as possible and expand the restaurant’s menu to include SoPo’s standard fare, including steaks and burgers. Cole Smith of CBRE | The Boulos Company brokered the transaction.

October 13, 2016

Maine Northeast Office

Montecito Medical Acquires 34,000 SF Maine Eye Center in Portland, Maine

by Amy Works October 5, 2016

PORTLAND, MAINE — Montecito Medical Real Estate has acquired Maine Eye Center’s Lowell Street campus in Portland for an undisclosed price. The 34,000-square-foot Class A medical office building is minutes from downtown Portland, Portland Harbor and the region’s two major hospitals, including Maine Medical Center. The Maine Eye Center has a practice lineage of more than 100 years and offers comprehensive eye specialty services. Including this transaction, Montecito has acquired 20 medical office buildings during the past 12 months and expects to close on the acquisition of eight additional medical real estate assets before the end of this year.

October 5, 2016

Connecticut Hospitality Maine Northeast

Elandis Completes $5M Renovation of Two Hotels in New England

by Jeff Shaw September 23, 2016

WASHINGTON, CONN., AND KENNEBUNK, MAINE — Elandis, the Americas real estate arm of the Libra Group, has completed a $5 million refurbishment of two of its hospitality assets in New England: The Mayflower Grace in Washington and the White Barn Inn in Kennebunk. Renovations at White Barn Inn included guest room and common area upgrades as well as a new cottage and deck dining spaces. The Mayflower Inn’s refurbishments included upgrades to guestrooms, dining areas and landscaping.

September 23, 2016

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