Portland, ME Remic Properties has completed the $8.2 million acquisition of the 34,000 s/f Maine Eye Center. Maine Eye is the leading ophthalmology practice in the state and the sole tenant in the building located at 15 Lowell St. The acquisition was part of a 1031 exchange that Remic completed following the sale of its property in Peabody, Mass.
Gary Belowich, president of Remic said, “We are very pleased to have a successful 1031 exchange and thank Michael Pappas of Belmont Savings Bank and Cas Groblewski of Fantini & Gorga for their help in bringing this transaction about. We also appreciate the work of Tom St. Jean and Mary Lambert of Brookline Bank for their roles as the Qualified Intermediary.”
Jeff Matulis and Toby Scrivner of Stan Johnson Company represented the seller, Montecito Medical.