Portland, ME Deering Property Development LLC purchased the 2.5 acre former Rufus Deering Lumber site located at 383 Commercial St. Joe Malone, CCIM and Jennifer Small of Malone Commercial Brokers represented the buyer. Details of the sale could not be disclosed.

Development plans for the former lumberyard call for up to 300,000 s/f of mixed use development of hotel, residential and retail space. Planned building facades to be brick, with exterior walls facing the courtyards. Also planned is a two-story garage that can accommodate 380 vehicles.