Bay House, a residential/commercial building at 15 Middle Street in Portland’s eastern end saw fist floor commercial condo units purchased by buyers intending to occupy those units. Both units are under 1,000 SF. “With interest rates low, a lot of owners, especially in that square-footage range, can own units cheaper than they can lease them,” said Jennifer Small of Malone Commercial Brokers. Read more about the sales in Mainebiz’s article
Recent Sales
From York County to Mid-Coast Maine areas, these recent sales include land, development, multi-family, office, retail and commercial properties.
Turnkey Business or Mixed Use Development at Pine Point
With a rare TCV-4 zone, 350 Pine Point Rd. can be re-developed for mixed commercial, industrial and residential use. The residential zoning is restricted to unit builds, like condos or apartments. At this ideal spot, the new owner has the chance to make significant impact. Read more in today’s Portland Press Herald
Reinventing the Office For a Post-COVID World
Peter Harrington, Partner and Associate Broker at Malone Commercial Brokers, weighed in with his thoughts in Mainebiz’s July 27th article by Renee Cordes, “Whatever works: reinventing the office for a post-COVID world.” He advises clients to view as many spaces as possible and account for additional space needed if the COVID-19 restrictions continue. Read more in the article here.
UPDATE: Urban Air Comes to Bangor
July 2020
When the space was leased last year, Mark Malone told Mainebiz he was "very excited." Finding retail mall tenants is difficult, but it's even harder to find tenants for space as large as the former mattress warehouse. Read more about the opening here in Bangor Urban Air set to take off in Airport Mall space in this Mainebiz article.
May 14, 2019
An Urban Air Adventure Park will be opening this spring in a 41,000+ SF space at Bangor’s Airport Mall. Local business owners Anthony and Staci Dill were born and raised in Maine and look forward to bringing this opportunity to Bangor. This location will have trampolines, dodgeball courts, Urban Warrior Course, multi-level climbing ropes and twisting tubes and Battle Beam. It will also have an Urban Air Adventure Hub. The focus is on active play for people of all ages and catering to families looking to spend time together. The space will also have a cafe with food and beverages. The Dills also have an Urban Air at 333 Clarks Pond Parkway in South Portland. Mark Malone, CCIM of Malone Commercial Brokers was the listing broker and Andrew Callahan of Venture Realty Partners was the tenant representative for the lease transaction. Also see Mainebiz article, Urban Air Adventure Park brings new interest in Bangor’s Airport Mall.
Strong Tenant Base Was Key
John Doyon, CCIM represented the seller of this 8,674 SF strip center at the Topsham Fair Mall in Topsham, Maine. The center is just off Exit 31 of I-295. Read more about this sale in the Mainebiz article by Laurie Schreiber published July 6, 2020.
Spring Sales & Leases
These recent property sales, business sales and leases are from around the state and include investment, industrial, service, retail, multi unit and office transactions.
COVID-19 Showings & Meetings Policy
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