Read about Brandon Mitchell and his client putting together a new portfolio of multi-unit properties in our Sector Story.
Former Wok Inn Property Leased
1207 Forest Avenue, Portland
1207 Forest Avenue was the Wok Inn for over 25 years. Now, the 4,296 SF property has been leased to cannabis retail tenant Sweet Dirt (Eliot, Maine based). The building is located directly on Portland’s most heavily traveled artery at Morrill’s Corner. The 1.32± acres site has 2 curb cuts: one on Forest Avenue and the other on Allen Avenue.
Jennifer Small and Joe Malone represented the landlord in the lease transaction. Read more about it here in the Sept. 18 Mainebiz article by Maureen Milliken.
Lewiston's Continental Mill Sold
Continental Mill
A New Era
The property was sold in May 2019 to New Hampshire based developer Chinburg Properties. Karen Rich and Cheri Bonawitz, CCIM of Malone Commercial Brokers and Keenan Auction Co. represented the seller, Roy Continental Mill LLC, in the sale. Read more here on the historic Lewiston property and future plans.
Spirit of Community Award
Malone Commercial Brokers was recently honored by The Opportunity Alliance with its “Spirit of Community Award.” Jennifer Small accepted the award on the behalf of the company (with Joe Everett, President & CEO of The Opportunity Alliance).
Recent Sales & Leases
Property sale and leases, and business sales from around the state.
2019 Annual Real Estate Forecast Conference
Malone Commercial Brokers’ Karen Rich presented the Southern Maine Retail Forecast in the Sector Analysis portion of the Maine Real Estate & Development Association’s Forecast Conference and Member Showcase. A record 1,000 real estate professionals attended on January 17, 2019. See Karen’s presentation below in video format or click here to go to our “Reports” page for PDF.
Maine's First Duluth Trading Co. Store
The first Duluth Trading Co. in Maine opened in So. Portland at 55 Maine Mall Road. Andrew Ingalls of Malone Commercial Brokers brokered the sale of the undeveloped 1.5 acres of which approximately one acre was buildable. It took over 9 months for the buyer/builder, Oppidan Inc., to get final approval, which they received in March with the goal to be open for Christmas, which they have clearly achieved. Read more…
The site was just waiting to be developed. Read more on the site and listing broker Andrew Ingalls’ interview in this November 14 article from Mainebiz.
Portland Office Park
It was a near full house at this forum held Oct 17 at the Portland Public Library. Jennifer Small, Associate Broker at Malone was one of the four panelists at this Business Breakfast Forum led by Portland Press Herald Business Reporter, J. Craig Anderson. The panel discussion included existing properties and new construction in Portland and how that impacts Class A and Class B office, downtown, mixed use, the suburban market, traffic and parking. The panel also did a Q&A with the audience.
“…with regards to medical office space, we’ve seen most expansion in existing buildings and there is good inventory which makes it less expensive than new construction. Suburban buildings have appeal for expansions because there’s less of a scramble for parking. Consolidations of practices are a large part of medical office expansion in Portland.” - Jennifer Small, Associate Broker
Panelists: Drew Anderson, Attorney & Partner - Murray Plumb & Murray; Sam LeGeyt, Associate Broker - NAI/The Dunham Group; Jennifer Small, Associate Broker - Malone Commercial Brokers; Nate Stevens, Associate Broker - CBRE/The Boulos Co.
Cumberland Center Office Property Closes
Portland's Parris Terraces Groundbreaking
Groundbreaking for Portland's first unsubsidized workforce housing in the city's history: Parris Terraces at 60 Parris Street in the Bayside neighborhood. Pictured: Portland Mayor Ethan Strimling, Portland City Councilor Jill Duson, Jak Soley (Developer: Horton LLC), Jesse Thompson (Architect: Kaplan & Thompson), Noel Graydon (Finance: Norway Savings Bank), Peter Harrington (Malone Commercial Brokers), Ali Malone and Andrew Roy (Portside Real Estate Group).
