North River Co. Buys Portland Square for $66M

PORTLAND, MAINE — North River Co., an affiliate of Waterfront Maine, has acquired Portland Square in downtown Portland for $66 million. Located at One and Two Portland Square, the two-building property features 260,000 square feet of office and retail space as well as adjacent and underground parking areas. Originally constructed in the late 1980s, the property is currently 97 percent leased to a variety of tenants, including TD Bank, Wells Fargo, Prudential and Stone Coast Fund Services. Drew Sigfridson of CBRE | The Boulos Company represented the buyer in the transaction. The seller was a REIT that had owned the property for nearly a decade.