West Gardiner Self Storage Facility Sold for $2.13 Million

17 Town House Road, West Gardiner

Malone Commercial Brokers is pleased to announce the sale of a newly constructed 26,000± square foot self-storage facility located at 17 Town House Road in West Gardiner, Maine. The 7.5± acre property with 5 storage unit buildings sold to 17 Town House Road, LLC from West Gardiner Self Storage, LLC for $2,134,000.

Completed in April 2023, the self-storage complex features all new buildings with a newly paved lot finished in August 2023. The facility is situated in a prime location along the busy Town House Road corridor.

Brandon Mitchell of Malone Commercial Brokers represented the seller, while Jordan Stolt of Summit Real Estate represented the buyer in the transaction that closed on May 1, 2024.

“We were very pleased to facilitate the sale of this top-quality self-storage facility,” said Brandon Mitchell. “The self-storage industry continues to experience significant popularity. The brand-new construction and demand for self-storage facilities made this a highly desirable investment opportunity.”

Mitchell is quickly gaining recognition in the self-storage industry. He currently has several self-storage facility listings. Contact Brandon for more information on other opportunities he has available.

The Comeback Champions: MBC Ballahs Strike Gold at MEREDA's Strikes for Scholars

After the disappointment of last year's second place finish, the MBC Ballahs weren't going to let that happen again. Our team of bowling enthusiasts had their game faces on and their eyes firmly set on the first place prize at this year's MEREDA Strikes for Scholars event.

And boy did they deliver! The Ballahs showed up in full force, channeling their inner professional bowlers to knock down pins left and right. An absolutely stellar performance from everyone on the team, spearheaded by MVP Susan Sawicki's blistering hot score of 160. The competition was blown away by the sheer power and precision of our rolls.

When the final frames were bowled, the MBC Ballahs had reclaimed their rightful place at the top of the Strikes for Scholars podium. The comeback was complete in decisive fashion.

While we may joke that bowling is serious business at MBC, the truth is we just love any opportunity to get together, have some fun, and support great causes like Strikes for Scholars. Bringing real estate professionals together for friendly competition that benefits the community is a win in itself. Knowing the funds raised go towards supporting students pursuing careers in construction trades and professions? That's the real MVP result.

Hats off to the entire MBC Ballahs team and MEREDA for another fantastic Strikes for Scholars tournament. We'll be defending that first place title hard again next year!

New Site Expands Waterstone's Medical Footprint in Westbrook

40 Park Road, Westbrook

Waterstone Properties Group Inc. is doubling down on Westbrook's healthcare boom with their recent $3.45 million acquisition of 40 Park Road - a 30,200 sq ft medical office building about 2 miles from their Rock Row medical campus.

Mark Malone of Malone Commercial Brokers represented the buyer, Waterstone, in the deal, while Drew Sigfridson of Boulos Co. represented the seller Northern Light Health's Mercy Hospital.

"The process is well underway to determine the highest and best use for this property," Josh Levy, Waterstone's CEO, told Mainebiz.

The 40 Park Road property had been utilized by Mercy for administrative offices before they consolidated space elsewhere. The nearly 5-acre site provides an ideal opportunity for Waterstone to develop new community-focused healthcare offerings close to Rock Row.

While usage plans are still being determined, the "building is in excellent condition, just waiting to be reimagined for community service health care," Levy said. The goal is to complement the 200,000 sq ft Rock Row Medical & Research Campus currently taking shape.

This anchor campus will offer integrated, patient-centric care with tenants like New England Cancer Specialists along with primary care, imaging, therapy and other specialty practices. "As always, we are committed to Westbrook in the long term and want to invest in other parts of the community, in addition to Rock Row," he said.

With key deals like 40 Park Road, Waterstone is solidifying Westbrook as a major suburban healthcare destination alongside their transformative Rock Row development. Stay tuned for more on their plans!

Read full MaineBiz article HERE

York County's Commercial Real Estate Boom by Brandon Mitchell

York County in Maine is experiencing a significant surge in commercial real estate development, with major projects underway across various sectors, including mixed-use, retail, multi-family, and industrial properties.

One of the most prominent developments is the Pepperell Mill, a 655,000-square-foot mixed-use campus in Biddeford. This massive project has breathed new life into the historic mill complex, creating a vibrant hub for businesses and residents alike. Adjacent to the Pepperell Mill, the city's first parking garage, the Pearl Street Parking Garage, is now complete, providing much-needed parking infrastructure to support the area's growth.

Another noteworthy addition to Biddeford's skyline is The Lincoln Hotel and Lofts, a 33 room boutique hotel and 148-residential development. Around the corner from The Lincoln lies The Levee. This campus-like redevelopment along the Saco River includes retail and residential components, and an onsite self-storage facility, further contributing to the city's revitalization efforts.

Beyond Biddeford, other major projects are underway in the region. In Ogunquit, The Dunes on The Waterfront resort is under construction with completion scheduled this May 2024, promises to be a premier destination for visitors. Meanwhile, in Saco, the Clover Leaf Development is adding 120 new apartments to the housing market. Additionally, a 50,000-square-foot industrial facility is in the works on 955 Portland Road.

The region's commercial real estate boom extends beyond construction sites, with several notable companies and businesses contributing to the economic landscape. Ready Seafood, Hancock Lumber, Pack Edge, Colliers Engineering, Brickyard Hollow Brewing, Spurwink Medical, and Batson River Brewing are among the newer businesses driving growth and creating job opportunities in York County.

Looking ahead, the pipeline of projects in the planning stage promises to further transform the region's commercial landscape. In Wells Beach, the Camp resort is in the works. Saco is also preparing for the Park North Development, which will feature 84 apartments and 79 residential lots. Biddeford continues to thrive as well with the Pearl Street Riverfront District, which 1st phase will provide 160 apartments and additional commercial space for restaurants and supporting retail. The 1 Diamond Development, a massive 500-unit apartment complex, is making its way through the planning phase, and Building 11 of the Pepperell Mill complex is slated for conversion into 76 apartments.

With such a robust lineup of developments, York County will become a thriving hub for commercial activity, offering a diverse range of opportunities for businesses, residents, and visitors alike. As the region continues to evolve, it will undoubtedly attract further investment and attention, solidifying its position as a prime destination for economic growth in Maine.

Popular Portland Restaurant Moving to Larger Location in Deering Center

Malone Commercial Brokers is pleased to announce the sale of 476 Stevens Avenue in Portland to Ryan Carey, founder of Noble Barbecue. Mike Anderson of Malone Commercial Brokers, Justin Lamontagne and Bryan Plourde of The Dunham Group brokered the transaction.

Noble Barbecue will rebrand as Noble Pizzeria & Barbecue at their new location. The spacious 4,091 square foot facility will feature a full dining room, an 18-seat bar, and a patio with seating for up to 50 guests. Noble’s famous barbecue will remain on the menu alongside their new selection of coal-fired pizzas. The restaurant will also debut a tempting array of milkshakes.

Noble founder Ryan Carey hopes to benefit the surrounding community and mentioned that Deering Center has been without a restaurant for over a year and having a gathering space for people to create memories is important for a community.

Carey expressed his enthusiasm for the expansion, “Noble Pizzeria & Barbecue is the culmination of my team’s culinary passions. We’re thrilled to bring our craft barbecue and wood-fired pizzas together under one roof in this incredible new space.”

A deal like this always requires a collaborative effort. Carey praised Mike Anderson for his role in the deal stating, “Mike was phenomenal. He represented the seller and was very prompt and professional with all questions.”

Mike Anderson of Malone Commercial Brokers, who represented the seller in the transaction, commented: “476 Stevens Ave was shown to numerous restaurateurs both local and from away over the past year and a half. I’m glad to have helped facilitate yet another local Maine business expand and believe Noble will do exceedingly well in Deering Center. It was a pleasure working with Ryan Carey and his team as well as Justin Lamontagne and Bryan Plourde from The Dunham Group.”

The new Noble Pizzeria & Barbecue location is scheduled to open in July 2024, with the original Noble Barbecue on Forest Avenue remaining open until that time.

Malone Commercial Brokers Professionals Reach New Career Milestones

Malone Commercial Brokers is pleased to announce Jennifer “Jenn” Small, Partner at Malone has earned the prestigious CCIM (Certified Commercial Investment Member) designation, a recognition awarded by the CCIM Institute to real estate professionals who demonstrate expertise in the disciplines of commercial and investment real estate.

Small joined MCB in 2000 as an intern, launching her successful career in commercial real estate. She has since risen in the company and industry to become a top producing broker in the Maine market.

Carly Saunders has been promoted to Broker Assistant on the Joe Malone Team after earning her Associate Broker’s License. Carly joined Malone in July 2021 as a Broker Assistant, her dedication and industry expertise have led to her swift career advancement.

Alexia Fornaro has earned her Sales Agent License and has been promoted to Broker Assistant role supporting the Karen Rich & Cheri Bonawitz team, and Mike Anderson. Alexia joined Malone in August 2023 as an Operations Assistant. She has quickly made an impact and proven herself as a valuable member of the team.

“We are incredibly proud of Jenn, Carly, and Alexia for their exceptional achievements,” said Molly McGuire, Designated Broker and Operations Manager at Malone. “Their dedication, hard work, and commitment to excellence have been instrumental in our continued success, and we look forward to their contributions in their new roles.”

Malone Commercial Brokers Honored with Two CoStar Impact Awards

Malone Commercial Brokers is proud to announce that their team has been honored with two prestigious CoStar Impact awards. The company was recognized for its exceptional work in two categories: Sale of the Year and Lease of the Year.

The Sale of the Year award recognized MCB's work in the acquisition of 95-97 Darling Ave. by Fork Food Lab from East Brown Cow. This transaction exemplified innovative solutions across various elements, including design, public-private partnerships, and creative financing. The deal showcased resilience and creativity in contributing to the revitalization of South Portland and the growth of Fork Food Lab's mission-driven organization. Joe Malone and Jennifer Small of MCB represented East Brown Cow in this transaction.

In the Lease of the Year category, MCB was honored for its role in the establishment of Coastline Direct Primary Care at 144 US Route One in Scarborough. This transaction highlighted the ability to navigate key challenges and generate innovative solutions to create a patient-centered, community-driven healthcare facility. Coastline Direct Primary Care is poised to redefine primary care delivery and improve the health and well-being of individuals in the Scarborough community and beyond. This lease deal was brokered by Andrew Ingalls of MCB.

The CoStar Impact awards recognize exemplary commercial real estate transactions completed in 2023 with significant influence in 128 international markets. We are so proud of our team for the role they played in these important transactions!

Howell Laboratories, INC. Acquires ODAT Machine INC. and Industrial Facility in Gorham

20 Sanford Drive, Gorham

Malone Commercial Brokers is pleased to announce the successful sale of ODAT Machine INC., including the 40,000± office and industrial building at 20 Sanford Drive in Gorham Industrial Park. The transaction was brokered by Karen Rich and Mike Anderson of Malone Commercial Brokers and closed on March 29, 2024.

ODAT Machine is a full-service machine shop with over 30 years of experience providing precision machining, fabrication, welding, injection molding and more. They service a range of industries such as Defense, Aerospace, Semiconductors, Microwave Technologies and Optics.

Howell Laboratories, INC. engineers, manufactures and tests fluid processing equipment for military, aerospace and other demanding commercial applications. Howell Labs brings 60 years of experience, priding itself on rigorous design, prototyping and manufacturing processes to deliver the highest quality solutions that lower total ownership costs and environmental impact.

The expansion of Howell Laboratories, Inc. marks an exciting chapter for both companies. They plan to hire ODAT’s invaluable employees with its acquisition. Howell Laboratories, Inc. is an ESOP, meaning they are owned 100% by their employees. Joe McDonnell, President and CEO of Howell stated, “We are very happy to report that we were able to retain all the current employees and make them part of our Employee Ownership team. Our focus will be growing the submarine portion of their business as well as supporting ODAT’s customer base.”

Richard Pratt, former owner of ODAT expresses his excitement for the transition, “I feel very comfortable with Howell Laboratories acquisition of ODAT, they are a great fit. I think this will be very good for the longevity of ODAT and the employees.”

Karen Rich stated, “We’re pleased to facilitate this transaction that provides a promising future for the company, its employees and the community.”

Anderson added, “The package sale of ODAT’s real estate and business was certainly not for everyone. I’m pleased that Karen and I were able to locate who we feel was the best buyer for this unique opportunity. As a broker, I enjoy assisting with and witnessing the process of one successful Maine-based business acquiring another.”

The deal was a full collaborative effort between both local Maine businesses, as well as the two talented brokers at MCB, and even more behind the scenes. We are excited to see HLI carry on ODAT’s legacy!

Rock Row's Medical Campus Grows With New Surgery Center

Medical Campus inside the Rock Row “Innovation District’ in Westbrook, Maine

The booming Rock Row mixed-use development in Westbrook continues to attract top-tier medical tenants. Plastic and Hand Surgical Associates P.A. has signed a long-term lease for 32,842 square feet at the Rock Row Medical Building on Main Street. Mark Malone of Malone Commercial Brokers played a crucial role as the sole broker in facilitating the deal. The practice plans to open a surgery center accredited by the Accreditation Association for Ambulatory Health Care, as well as a medical-grade skin care facility called Skin Solutions.

"This unique concept will significantly benefit people across the region by making high-quality surgical and skincare services easily accessible with concierge-level patient amenities unmatched in Maine," said Dr. Sirish Maddali, president of Plastic and Hand Surgical Associates. The group's eight board-certified plastic surgeons offer advanced cosmetic and reconstructive procedures along with specialized hand surgeries.

Josh Levy, owner of developer Waterstone Properties Group, welcomed the tenant: "Plastic and Hand Surgical Associates enhances the growing roster of forward-thinking providers at our Medical & Research Campus who embrace our vision for next-generation healthcare in Maine."

Rock Row's $600 million first phase delivered the Market Basket grocery store plus retail like REI, Chase Bank, Starbucks, Chick-fil-A and Cowbell. Subsequent phases will add residences, offices, hotels, and additional mixed-use components.

Other major tenants already committed to the 2024 campus opening include anchor New England Cancer Specialists, the Dempsey Center, Saco Bay Physical Therapy, and Rayus Radiology. Approximately 70% of the campus is now pre-leased. Contact Mark Malone if you are interested in joining these fantastic tenants!

Read MainBiz Article Here!

Portland's First Board Game Bar "Another Round" Coming Soon

If you're a fan of board games, coffee, local brews, or just seeking a novel hangout spot, you'll want to mark your calendar for the late May opening of Another Round on Congress Street.

Owner Harry Sultan is preparing to unveil Portland's first board game bar and cafe at 549 Congress St. in Portland, Maine. In our recent discussion, it was clear he has put tremendous thought and effort into making this a truly unique space.

Sultan worked with Cheri Bonawitz and Karen Rich of Malone Commercial Brokers to secure the lease. “Cheri was there every step of the way,” Sultan explains, “I never really thought I would end up owning the space, and Cheri kind of helped me understand what it would take to go through that whole process and spelled everything out in a very demystifying way.”

Originally from New York, Sultan first discovered his love for Maine after attending the Salt Institute here in 2017. When the pandemic allowed him to relocate full-time, he identified an opportunity to fill a niche in Portland's hospitality landscape.

"We're aiming to create a space where you can swing by for great coffee or local craft beer, with a community board game focus at the core - something currently missing in Portland," explained Sultan.

From the layout to the amenities, every aspect has been strategically designed with community board gaming in mind. Sultan is working with Woodhall Architects and Construction to entirely transform the former downtown office space.

A centerpiece will be the massive, modular pegboard shelving system lining one wall to house Another Round's staggering collection of over 200 board games.

"We're making this custom pegboard shelving," said Sultan. "So, as we get new games or rotate the selection, the entire system is adjustable."

Sultan wants something there for everyone, from families, to board game enthusiasts, and anyone in between. Spanning the timeless classics like Monopoly and Guess Who, to the newer classics like Catan and Ticket to Ride, to the more advanced like Wingspan and Twilight Imperium, the pegboard shelving will artfully display the diverse library.

The layout will feature a handcrafted wooden bar serving espresso drinks and local beers, with seating for solo guests to enjoy a quick game while waiting to meet others. But the focus is on maximizing space with larger tables that can accommodate even the biggest board game setups.

"For me personally, I don't have a great place to play board games at home. That's a key reason why I felt a dedicated space like this was needed," noted Sultan.

Placards will be available for patrons to display at their table, signaling their interest in joining a game or having others join them in an intuitive way.

While groups like the local "FriendCon Alliance" exist, Sultan wanted to establish a physical hub to foster the existing board gaming community that had a little more flexibility with its hours, something he missed when first moving to Portland.

Following a soft opening around Memorial Day, Another Round plans to operate Wednesday through Sunday, 8am to 9pm initially to cater to tourists and those with flexible schedules. These hours and days are subject to change as they iron out operational details.

Longer-term, Sultan has ambitious plans to expand with a roastery and coffee carts once the board game bar concept is proven successful.

"This is the proof of concept I'm putting my full effort behind," said Sultan. "I'm hoping we can demonstrate that there's strong demand for spaces like this in Portland."

Based on the amount of thought poured into every detail, it's hard to imagine board game aficionados and novelty-seekers alike not embracing Another Round when it opens its doors at 549 Congress Street in late May. Sultan concludes, “as excited as I am to see it myself, I'm more excited for everyone else to come see it.”