Kittery, ME CORE has acquired 360 US Rte. 1. This 24,000 s/f shopping center is in the downtown and is home to Brooks Bros., Talbots, and Sustenance Herbs – a locally based, organic pet food store. The transaction, which closed on August 22nd, marks another deal for CORE’s recently launched acquisitions division.
“Repositioning this shopping center is an exciting opportunity to continue CORE’s contributions to Kittery’s thriving retail landscape,” said Frank Carr, director of CORE’s brokerage division. “This acquisition represents our commitment to revitalizing key properties across New England, and we look forward to seeing the positive impact this project will have on the local business community.”
CORE’s brokerage team, led by Carr, will focus on filling three current vacancies, with each space ranging from 2,000 to 4,000 s/f. CORE will also offer funds to assist qualified tenants in their buildout at the property.
Key renovations to the property are already well underway thanks to CORE’s fully integrated team, which includes an expert operations and management division.
“We pride ourselves on the meticulous attention we bring to property management,” said Dajana Derman, director of operations & management at CORE. “Our team is dedicated to creating spaces that not only attract quality tenants but also foster long-term success. This project in Kittery is just one example of how we ensure properties reach their full potential.”
Planned improvements include painting, resurfacing the parking area, and upgrading the existing HVAC system to become more energy efficient, ensuring a welcoming environment for new local retailers and their customers.