Malone Commercial Brokers is pleased to announce the successful sale of Stroudwater Crossing, a 32,134± square foot Class A office building located at 1685 Congress Street in Portland, Maine. The property sold to WR Realty for $7,500,000 and closed on June 30, 2026.
John Doyon of Malone Commercial Brokers represented the seller, 1685 Congress Street LLC, while Charles Day of The Porta & Company represented the buyer.
Located in Portland's Stroudwater neighborhood, the fully leased office building has established itself as a premier destination for medical and professional office users. At the time of the sale, the property was 100% occupied by a strong roster of long-term, triple-net tenants, including Maine Plastic Surgery Center, several national healthcare companies, a regional medical consulting firm, and a local medical group.
Over the past several years, ownership invested significantly in maintaining and improving the asset. Recent capital improvements included multiple HVAC unit replacements, a new rubber membrane roof, a rooftop make-up air handler and heater, and updated life safety systems. In addition, two tenant spaces were completely built out in late 2025, further enhancing the property's long-term value and appeal.
On an 8.92± acre site, Stroudwater Crossing offers approximately 160 parking spaces, providing an exceptional parking ratio for tenants and visitors. Its location offers convenient access to Portland International Jetport, Interstate 95, Interstate 295, the Maine Mall area, and downtown Portland, making it an attractive location for healthcare and professional office users.
"There is continued investor confidence in well-maintained, fully leased medical office properties throughout Greater Portland," said John Doyon. "Stroudwater Crossing is an outstanding asset with a strong tenant base, quality ownership history, and a location that continues to attract long-term demand."
Congratulations to both the buyer and seller on a successful transaction and we appreciate the opportunity to assist in bringing this sale to a successful close.