Malone Commercial Brokers Honored with Two CoStar Impact Awards

1 Portland Square

Photo Courtesy of CoStar

300 Southborough Drive

Photo Courtesy of CoStar

We are excited to share that Malone Commercial Brokers has been honored with not one, but two CoStar Impact Awards, which recognizes the most significant commercial real estate transactions in Greater Portland, Maine. Our team received the Lease of the Year and Sale/Acquisition of the Year awards for two transactions that each, in their own way, are shaping the future of our region.

Lease of the Year: R.M. Davis Moves Offices in Downtown Portland, Maine to Support Growing Team

Jenn Small of MCB represented R.M. Davis in the lease of 30,184± square feet at One Portland Square, one of the city’s premier Class A office buildings. The lease, which grew from an original 24,185± SF signed in April 2025 to include an additional 5,999± SF by January 2026, is among the largest office transactions in downtown Portland last year.

R.M. Davis is investing in a beautifully renovated, long-term workspace that puts its people and clients first, proving that the office market remains strong, despite post-COVID remote opportunities. The company plans to relocate from 24 City Center to One Portland Square in the Fall of 2026 after a comprehensive build-out designed to support collaboration, operational efficiency, and the future of professional work. The transaction delivers real net absorption in a competitive market and reinforces downtown Portland’s role as the region’s hub for professional services.

Jenn’s deep knowledge of R.M. Davis’s long-term strategy, and her ability to identify and negotiate a space that truly fits their needs, is exactly the kind of work we are most proud of. Congratulations to Jenn and R.M. Davis on this well-deserved recognition!

Sale/Acquisition of the Year: MaineHealth’s Transformative South Portland, Maine Acquisition

On July 1, 2025, MaineHealth acquired 300 Southborough Drive in South Portland, Maine, which is a 122,042± square-foot Class A office building on 19 acres, for $20,000,000. Mark Malone and Joe Malone represented MaineHealth in this landmark transaction, working alongside Tom Moulton and Katie Breggia of The Dunham Group, who represented the seller, Metro 300, LLC.

MaineHealth is investing $70 million total into the property to create a consolidated orthopedic hub for southern Maine. The hub will bring together specialty clinics, imaging, physical therapy, and a brand-new 14,000 SF freestanding orthopedic surgery center. Prior to this acquisition, MaineHealth’s orthopedic services were scattered across multiple sites, creating challenges for both patients and providers. 300 Southborough Drive gives them the space and infrastructure to bring it all together.

Beyond the clinical impact, this transaction is a great example of how repurposing large office assets can benefit an entire community, creating jobs, activating a major suburban site, and addressing real healthcare access needs. We are incredibly proud of Mark and Joe for the role they played in making this happen.

Thank You to Our Clients and Partners

These awards belong as much to our clients as they do to us. R.M. Davis and MaineHealth both had the vision and courage to make bold, long-term commitments, and it was our privilege to help bring those visions to life. We are also grateful to our co-brokerage partners for their professionalism and collaboration throughout both transactions.

The CoStar Impact Awards recognize exemplary commercial real estate transactions with significant influence in markets across 128 international markets. To be honored twice is a reflection of the incredible work happening here in Maine, and of the talented team at MCB who makes it possible.

Congratulations to Jenn Small, Mark Malone, and Joe Malone on this outstanding recognition. We are so proud of you!

R.M. Davis Plans Relocation to One Portland Square in Downtown Portland

1 Portland Square

“Jenn’s expert guidance, patience, and professionalism played a crucial role in helping us find a new space that suited our needs.”

— Scot Draeger, Principal and President of R.M. Davis

R.M. Davis has leased 30,184± square feet of office space at One Portland Square in downtown Portland. The lease transaction, which was initially 24,185± SF closed in April 2025, and the company plans to relocate from its current office at 24 City Center in Fall 2026 following a full renovation of the space. Recently, R.M. Davis leased 5,999± SF of space in addition to the original square footage, which closed on January 23rd, 2026.

The move reflects a reassessment of R.M. Davis’s office needs as the firm plans for continued growth. One Portland Square offers the scale, functionality, and central location required to support the company’s operations and long-term objectives. The new office space is being redesigned to better align with how the team works today.

“We gave careful thought to moving after being in the same building since 1980 and did not make the decision lightly. Jenn’s expert guidance, patience, and professionalism played a crucial role in helping us find a new space that suited our needs,” said Scot Draeger, Principal and President of R.M. Davis.

“R.M. Davis approached this process with a clear understanding of where they want to be long term,” said Jennifer Small, CCIM of Malone Commercial Brokers. “Our role was to evaluate the downtown market carefully, compare efficiencies across availabilities, and negotiate terms that made sense both financially and operationally. “

Jennifer Small represented R.M. Davis in the lease. Her long-standing relationship with the firm and understanding of its operational priorities helped guide the site selection and negotiation process. The landlord, North River IV LLC, was represented by Drew Sigfridson and Brice O’Connor of The Boulos Company.

Downtown Portland office space, particularly as companies continue to refine their post-pandemic workplace strategies, remains attractive to established firms seeking efficient, well-positioned space. R.M. Davis’s planned relocation reinforces ongoing demand for quality downtown offices designed to support modern workplace needs.

Historic Augusta Office Building Transfers To New Owners

One Weston Court, the historic Augusta landmark that once housed Vickery & Hill Publishing beginning in 1879, has changed ownership once again. The 43,637± SF office building is located downtown across from the courthouse complex, and has easy access to the State government campus as well. Many renovations and upgrades had been done since it was last purchased in 2019, and the building is used as offices for both public and private sector tenants across three floors.

Sold to Weston Leasing, LLC by Griffle, LLC dba Vickery Hill, LLC for $1,800,000. Mark Malone and Nick Malone of Malone Commercial Brokers (representing the Seller) and Alex Pirleci of Keller Williams Commercial (representing the Buyer) brokered the transaction, which closed December 19, 2025.

New Retailer Steps Into Iconic Kennebunkport Location

30 Ocean Avenue, Kennebunkport, a landmark retail property with a residential apartment on the second floor, was recently sold. Formerly home to Carla’s Closet, a women’s boutique in business since 1974, the 1,980± SF building’s outstanding location is getting a second act. Frances Elle, a luxury resale boutique, had a soft launch this past November, and plans for a Grand Opening in May, 2026. Karen Rich of Malone Commercial Brokers represented the sellers, and Heidi Maynard of Pack Maynard Real Estate represented the buyers in the transaction, which closed October 24, 2025.

UNE Purchase Secures Site of Marine Science Program

University Of New England has purchased a 0.5± AC lot at 26 Reserved Lane, Biddeford. The property, located on the shore of Hills Beach, is adjacent to the Arthur P. Girard Marine Science Center, the home of UNE’s marine science program. This acquisition by the University secures the marine sciences research marina for the future. John Doyon, CCIM, of Malone Commercial Brokers represented the buyer and Joey Radford of Oceanview Properties represented the seller in the transaction, which closed December 13, 2025 for $1,120,000.

PopUp Bagels Debuts in Maine at Old Port Square

PopUp Bagels has officially opened at Old Port Square, marking the brand’s first Maine location. The Connecticut-based concept, known for its award-winning bagels and growing New England presence, has opened in a 1,350± SF space at 210 Middle Street under a 10-year lease.

The highly visible, curvilinear building features an open-concept interior, floor-to-ceiling glass, and outdoor seating designed to complement the pedestrian scale of the Old Port. The lease was brokered by Joe and Luke Malone of Malone Commercial Brokers and Peter Gwilym of Porta & Company.

PopUp Bagels adds momentum to the continued reinvestment and activation of Old Port Square, a four-acre block undergoing a broader transformation into a vibrant urban destination for locals, workers, and visitors alike.

Click HERE to read more about the deal!

Portland Museum of Art Expands Campus with Major Free Street Acquisition

The Portland Museum of Art is expanding its campus with the purchase of four adjoining properties on Free Street, including MaineHealth’s former administrative building and several nearby parking lots. The deal gives the museum control of nearly an entire city block in Portland’s Arts District, strengthening its long-term plans for growth and improved visitor access.

The properties at 110, 120, 128, and 130 Free Street add both building space and valuable downtown parking capacity. PMA plans to relocate its administrative offices to 110 Free Street, allowing more room for gallery space and visitor services within its main campus. The transaction also includes approximately 140 parking spaces, which will support museum programming and increase convenience for guests.

These purchases are part of PMA’s larger “Blueprint” initiative, a $100 million project focused on integrating and modernizing its campus. MaineHealth will continue to occupy the Free Street building for the next two years while the museum begins its phased planning for future use.

A notable investment in the city’s cultural and commercial landscape, this purchase reinforces the Arts District as a hub for creative, community-focused development.

The deal was brokered by Joe Malone, Mark Malone, Luke Malone and Nick Malone of Malone Commercial Brokers.

Read more about this major sale HERE !

Main Street Retail Changes Hands In Freeport

One of  Freeport's most prominent retail properties changed hands this July 8th. 35 Main Street, a 37,663±SF building, sold to Chilton Properties, LLC by 35 Main A&B Freeport, LLC and 35 Main C, Freeport LLC for $4,300,000.  The high-visibility spot  houses national retail names The Gap and American Eagle Outfitters, and is a key property in the vibrant mix of outlets, boutiques, and iconic Maine brands that make Freeport a destination for locals and visitors year-round.  

Anchored by the flagship LL Bean campus,  Main Street has been reimagined more than once since its shipbuilding days, drawing more than 3 million visitors annually to its premier shopping, restaurants, galleries, and experiential offerings like Meetinghouse Arts and free concerts at Bean's Discovery Park.  35 Main Street is strategically located in this bustling downtown, just steps from other major retailers such as North Face, Patagonia, and Polo Ralph Lauren.

Mark Malone and Nick Malone of Malone Commercial Brokers brokered the transaction.

Northland Enterprises Acquires Lot in Gorham Industrial Park

Northland Enterprises has purchased a 15.5-acre parcel at Cyr Drive in Gorham Industrial Park (Lot 1) from The Town of Gorham for $1.11 million. The Portland-based developer sees strong demand for modern industrial space and plans to market the site for a build-to-suit facility.

The lot is approved for an 80,000± SF industrial building with high ceilings, loading docks, and office space, with potential to expand beyond 100,000 SF. Northland expects the investment could range from $17 million for a traditional warehouse to $25 million for a specialized, temperature-controlled facility.

Mike Anderson of Malone Commercial Brokers brokered the deal. He noted the sale could serve as a catalyst for additional activity in the park’s expansion area, where Amazon recently purchased 94 acres for $4 million.

Since 2001, Northland has developed more than 300,000 SF of commercial properties across Maine. Their move into Gorham reflects confidence in the region’s industrial market, where existing vacancies are limited and demand for large-scale, customizable facilities remains high.

Read MaineBiz feature HERE!

MaineHealth Invests in South Portland Orthopedic Hub

Rendering Courtesy of MaineHealth

MaineHealth has purchased 300 Southborough Drive in South Portland for $20 million, with plans to create a new hub for orthopedic care. The three-story, 122,000± SF Class A office building sits on 19 acres and offers more than 600 parking spaces.

The acquisition is part of a $70 million investment that includes $30 million in renovations to the building and $20 million toward a new 14,000± SF freestanding orthopedic surgery center. Once complete, the site will bring together orthopedic providers and specialty services that are currently spread across Greater Portland, creating a more centralized and collaborative care model.

Joe Malone and Mark Malone of Malone Commercial Brokers represented MaineHealth in the transaction, while Tom Moulton and Katie Breggia of The Dunham Group represented the seller, Metro 300 LLC.

Renovations are expected to begin in the coming years, with construction on the new surgery center anticipated to start by late 2025. MaineHealth projects the hub will improve patient access, expand capacity, and streamline orthopedic services for the region.

Read MaineBiz feature on this transaction HERE.