The Boulos Company sells 442,882 s/f Aroostook Center Mall for $4.65 million

April 05, 2019 - Northern New England

Presque Isle, ME Aroostook Center Mall Realty Holding LLC purchased a 442,882 s/f mall from WBCMT 2007-C33 Aroostook Center Mall LLC for $4.65 million. The buyer intends to stabilize the mall and to continue its operation as an investment. The sale included a Lowe’s Home Improvement ground lease which increased the value of the deal. The transaction was arranged by Derek Miller of The Boulos Co. and Peter Stevens with CBRE.

Derek Miller,
The Boulos Co.

 

Peter Stevens,
CBRE

 

Drew Sigfridson,
The Boulos Co.

 

Chris Paszyc,
The Boulos Co.

 

In another transaction, Ellsworth Holdings, LLC purchased a 13,500 s/f office building in Ellsworth from AVANGRID for an undisclosed amount. The building is a fully leased single-tenant investment property. The tenant is the State of Maine Department of Health & Human Services which recently signed a new long-term lease. The property was purchased by a subsidiary of Ellis Commercial, headquartered in Hermon, Maine. The transaction was arranged by Drew Sigfridson, SIOR, and Chris Paszyc, CCIM, SIOR, of The Boulos Co.

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