392, 400 & 420 Warren Ave in Portland / Photo by The Dunham Group
Malone Commercial Brokers is pleased to announce the recent successful sale of a 5-building industrial portfolio spanning an impressive 151,470± square feet across multiple. This notable transaction, closed on November 9, 2023, marked a significant milestone for both buyer and seller in Maine's commercial real estate landscape.
The portfolio, consisting of properties at 392, 400 & 420 Warren Ave in Portland, 80 Kittyhawk Dr in Auburn, and 37 Godsoe Rd in Bangor, was acquired by Capital Properties, LLC from K & R Realty Associates, LLC for a total of $14,550,000.
Brokered by Brandon Mitchell from Malone Commercial Brokers, representing the buyer, and T.C. Haffenreffer and Sylas Hatch from The Dunham Group, representing the seller, this collaboration among seasoned professionals played a pivotal role in ensuring the seamless and successful closure of this significant deal.
Capital Properties' decision to invest in this industrial portfolio underscores their recognition of the exceptional value within Maine's flourishing industrial market.
Expressing his enthusiasm about the deal, Brandon Mitchell highlighted, “This acquisition reflects the strength and attractiveness of Maine’s industrial real estate market. Capital Properties has secured a portfolio with immense potential and strategic significance.”
The sale stands as a testament to the thriving nature of Maine's industrial real estate market and the collaborative efforts of professionals committed to fostering growth and opportunity within the state of Maine. As Malone Commercial Brokers continues to facilitate such impactful transactions, the company remains dedicated to driving success and value for its clients in the dynamic realm of commercial real estate.