1685 Congress Street - Portland, ME
Portland, ME 2017 marked the 7th consecutive year of growth in the Greater Portland office market, punctuated by new construction, increased sale pricing and lower vacancy rates, according to the recently published “2018 Greater Portland Office Market Survey” by Matthew Barney, broker with Malone Commercial Brokers. Barney has 18 years of experience in the Greater Portland commercial real estate market, and is recognized in providing comprehensive market data and analysis allowing him to effectively and professionally represent national, regional and local clients.
Continuing its growth, Malone Commercial Brokers completed the following transactions:
• 1685 Congress St., Portland: 30,548 s/f office building sold to 1685 Congress Street LLC by Stroudwater Associates for $5.75 million. John Doyon, CCIM of Malone Commercial Brokers represented the seller in the transaction.
• 222 Auburn St., Portland: 18,000 s/f office building sold to MSP Professionals LLC by Robert & Martha Smith for $1,843,600. John Doyon, CCIM of Malone Commercial Brokers and John Graham of Graham Real Estate brokered the deal, which closed December 27, 2017. Graham represented the buyer.
• 27 Main St., So. Portland: 9,408 s/f office building sold to Teamsters Local Union No. 340 by 27 Main Street LLC for $1.02 million. Andrew Ingalls of Malone Commercial Brokers represented the buyer in the transaction.
• 144 Thadeus St., So. Portland: 4,800 s/f warehouse/office building sold to Blue Sky Holdings LLC by Teamsters Local 340 Union No. 340 for $670,000. Andrew Ingalls of Malone Commercial Brokers and Andrew Carr of Carr Building brokered the deal. Carr represented the seller.
• 1400 Washington Ave., Portland: 4,055 s/f retail/service building sold to #1 Plaza LLC by RITCO Properties Inc. for $460,000. John Doyon, CCIM of Malone Commercial Brokers and Craig Church of Magnusson Balfour brokered the deal. Doyon represented the buyer.
• 11-13 Short Bennett Rd., New Gloucester: 24.24 acres with two buildings totaling 8,493 s/f sold to the Morrison Center by the Wayfinder Schools for $675,000. Michael Anderson of Malone Commercial Brokers and Gregory Perry of Cardente Real Estate brokered the sale. Anderson represented the seller.