Malone Commercial Brokers is working hard to ensure the safety of its brokers, employees, clients, and members of the general public while still hosting in-person meetings and showings. To that end, we have established the following protocols for conducting meetings and showings. Click here for details
“Our local restaurants are our neighbors and clients”
Malone Commercial Brokers recently made a donation to C4C (Cooking for Community) in their program to create a ripple effect through our Maine community by supporting restaurants, local supply chains, and people in need ... all at the same time. The funds are used to pay restaurants to cook easy to reheat, packaged meals using locally sourced ingredients and resources thereby helping restaurants to pay their employees; local seafood growers, fishermen and farmers to sell their goods. "Our local restaurants are our neighbors and clients," said Joe Malone, President of Malone Commercial Brokers. "Portland is a foodie town and we want to keep it that way. It is what has been driving our economy, bringing heightened awareness of what a great place it is not only to visit but to live and work." During a recent Zoom Gathering of the Malone CB team Joe announced the company's contribution to C4C and if anyone on the MCB team makes a donation, he will personally match it. The MCB team quickly responded, recognizing that they can help in this urgent rescue mission facing our food industry and people in need. "Supporting them while supporting those in need is the right thing to do now" Joe said.
For more information, please go to the website here. Cooking for Community donations are tax deductible. To donate please go to this link or mail a check to Catholic Charities Maine, Attn: Cooking For Community fund, P.O Box 10660, Portland, ME 04104. Please make the check out to Catholic Charities and write for Cooking for Community in the memo line.
Long Island Store Sells
The shore side property includes a 3,250-square-foot retail building that dates to about 1909. Karen Rich and Cheri Bonawitz, CCIM of Malone Commercial Brokers brokered the deal. The store will offer breakfast, lunch, ice cream, penny candy and live lobster. The site will continue to sell gasoline. The store has been renamed Byers & Sons Long Island Bakehouse. Read more about this transaction here in Mainebiz
Augusta Multi Unit Portfolio Closes
Brandon Mitchell of Malone Commercial Brokers represented the buyer in the sale of a 44-building multi unit portfolio plus 5 vacant parcels all located in Augusta. Read about this significant transaction and how it closed.
Historic Arts District Gem
The H.H. Hay Building, a “flatiron” building, dating back to 1826, recently sold. Mark Malone, CCIM represented the buyer and Cheri Bonawitz, CCIM and Karen Rich represented the seller in the sale of the H.H. Hay Building at 594 Congress Street in Portland. They were all recently interviewed by Laurie Schreiber of Mainebiz about the sale. Read the April 27, 2020 Mainebiz article
Dana Warp Mill was filling up fast, and is expected to continue post-coronavirus
Cheri Bonawitz, CCIM and Karen Rich of Malone Commercial Brokers are the brokers for Dana Warp Mill in Westbrook. Mainebiz recently interviewed Cheri on the leasing activity since the mill was purchased by Chinburg Properties in December 2018. Read the April 8, 2020 Mainebiz article by Maureen Milliken here.
Recent Closings & Leases
Multi-unit sales in Portland and Biddeford, retail property sale in Newport, suburban office leased in So,. Portland and office leases in Portland and Freeport.
Navigating Financial Resources
We’ve put together this newsletter regarding the financial stimulus package to help you navigate resources available to you. Read it here
Cape Elizabeth's Micro Lumber Yard
Brandon Mitchell of Malone Commercial Brokers represented the buyer of the former Cumberland Farms building located at the intersection of Route 77 and Shore Road. Cumberland Farms had relocated to the opposite side of the road several years ago.
“This is like a micro lumber yard, the best part is that the wood we’ll be selling will be based on the chain-of-custody model, things like where it was grown, worker conditions, transportation costs and carbon footprint. It’s simple but it’s overlooked.” - Lumbery owner, Michael Friedland, as told to Mainebiz in a February 24, 2020 article by Laurie Schreiber.
Historic Kingfield Property Closes
John Doyon, Partner & Broker at Malone Commercial Broker recently brokered the sale of the historic Herbert Grand Hotel in Kingfield, Maine. The property, completed in 1918, has rich a history. Read more in this issue of Sector Story!
Also check out Mainebiz article of March 9, 2020.