The mixed-use brick building, adjacent to the multi-million-dollar renovation at the Time & Temperature Building, has been well maintained and much-improved over the years. Michael Anderson of Malone Commercial Brokers and Jed Rathband of Keller Williams Realty brokered the transaction.
Read the full MaineBiz article HERE.
Malone Commercial Brokers is pleased to announce the sale of 12 Bartlett Road, centrally located in the industrial corridor of Gorham, to Northland Enterprises. This industrial project, comprised of 20,600± SF Class A warehouse space that includes office space, an additional 5,000± SF mezzanine and capability of up to 9,600± SF of additional space, is 100% occupied with a long-term janitorial supply tenant. The sale was brokered by Brandon Mitchell and Mark Malone, CCIM, of Malone Commercial Brokers.
When broker Brandon Mitchell learned that the current owners wished to sell the property they occupy, he immediately alerted Northland Enterprises CEO Josh Benthien, who had been looking for the right acquisition opportunity to add to the growing Northland portfolio of commercial investments. Mitchell also had an ongoing relationship with the current owner/tenant, so he felt this would be a mutually beneficial transaction for both parties, “As soon as I heard this project was coming on the market, I made sure they [Northland] were the first to see it. With such a quality tenant and the immaculate condition of the facility, we knew it would go fast. Northland jumped on it and wrote an offer that day.”
According to Benthien, “Northland specializes in build to suits and sale lease backs, with a long-term investment philosophy. When we acquire a building and sign a lease, we do so with the expectation that we’ll be partners with that tenant for ten years or longer. A key to success in these landlord-tenant relationships is open communication, shared values, and a desire to facilitate long term value in both the building and the tenant’s business.” 12 Bartlett Road sold for the listing price of $3.75 million.
On January 20, 2022, Peter Harrington of Malone Commercial Brokers presented “The Greater Portland Retail Forecast for 2022” at the Maine Real Estate and Development Association’s (MEREDA) 2022 Conference. HERE is an overview of his presentation from MaineBiz.
To access Pete’s full presentation, click HERE.
This spring, Norcom Mortgage, a branch of Connecticut-based Norwich Commercial Group , Inc., will be relocating to its new Saco home at 9-11 Beach St, after completion of extensive restoration and remodel of the historic building. The established Cia Cafe is on the ground level of the building and the Norcom offices will occupy the second and third floors.
The sale was brokered by Mike Anderson of Malone Commercial Brokers and Sam LeGeyt of the Dunham Co. To learn more, read the full article from MaineBiz HERE.
[PORTLAND, MAINE, December 21, 2021] Malone Commercial Brokers is pleased to announce the sale of one of South Portland’s most recognizable retail centers: Mallside Plaza, a 118,422 SF, 2.9 AC retail center at 198 Maine Mall Rd, situated just off I-295 and the Maine Turnpike. Mark Malone, CCIM, Principal/VP/Broker at Malone Commercial Brokers, represented the owner (NECG Mallside BH, LLC) and Scott Schubert of Anagnost Realty and Development represented the buyers.
Mallside Plaza | 198 Maine Mall Rd | Portland, ME
The buyer, Wood Hill Realty Associates, LLC, acquired this 96.5% occupied property. Located in the heart of the Maine Mall shopping district, Mallside Plaza is anchored by national tenants DSW, Planet Fitness, Dollar Tree, Guitar Center, Five Below, Five Guys, and Jackson Hewitt Tax Service, in addition to local tenant, Theory Wellness of Maine. NECG Mallside BH, LLC has owned the project since 2017.
The property was listed for $21 million and sold for $20 million, as the new owner plans to invest in property improvements, including a parking lot renovation. In addition to the main retail building, the center has an outparcel occupied by Five Guys with another outparcel possibility of 2K-5K SF. There is currently one vacant space for lease, totaling 4,200 SF.
According to Mark Malone, “A diverse and established tenant roster, combined with a central location and continued possibility for growth, make this shopping center both a desirable commercial real estate investment as well as a great shopping destination for the community and region.”
For additional information, contact Molly McGuire, Designated Broker|Operations Manager at molly@malonecb.com
New team members Cassie Demick, Susie Pollard, Carly Parent and Luke Malone
Malone Commercial Brokers (MCB) is pleased to announce the expansion of their team with these four professionals:
Luke Malone comes to MCB after four years of development work with Essex North. During his tenure there, Luke helped coordinate the roll-out of the AC Hotel, the 20 Thames Condominium Building, and managed the financial analysis and preconstruction of the 5 India Apartment building. In addition to an M.S. in Real Estate from the University of Denver, Luke’s industry experience will be an asset to the brokerage team at Malone as he supports them in this research and analyst role.
Susie Pollard recently relocated from Austin, Texas, to join MCB as Marketing Specialist. Originally from Florida, her experience includes photography, design, and marketing, and spans from Paris, France, Los Angeles, and Austin, where she worked in commercial real estate for over a decade at local and international firms including JLL and CBRE. Susie is excited to bring her creative innovation and industry knowledge to Maine and the dynamic Malone team.
Carly Parent comes to MCB as Broker Assistant and Marketing Specialist. In addition to a previous marketing position with The Boulos Company, she holds a marketing degree from the University of Maine. Carly now leverages her industry and marketing experience for MCB brochures and presentation design, social media content creation, media planning, and general broker support.
Cassie Demick recently joined MCB as Operations Assistant. A graduate of the University of Maine in Orono, Cassie is a great fit for this multifaceted role at MCB, where she can utilize her marketing and photography skills in addition to providing general support to the Malone team. Cassie is especially pleased to bring something new to a family-owned business local to Maine, where her own roots are grounded.
Luke, Carly, Cassie and Susie are looking forward to working with the MCB team and our clients in Portland and all throughout Maine.
The Gorham Industrial Park is poised for rapid growth since its purchase in 2020 by the Town of Gorham. Covering an area of approximately 141 acres and well-situated with close access to I-95, the Gorham Industrial Park is expected to attract substantial interest from industrial and creative business owners seeking a stake in Maine’s growing economy.
With potential financing with the Town of Gorham via their Revolving Loan Fund program and a central location in Greater Portland, Mike Anderson, lead broker for the park, expects the lots to sell out within the next couple of years, “The seller is a forward-thinking, progressive municipality, and we’re confident we will find the right mix of businesses to take advantage of this rare development opportunity.”
To read the full article by Catie Joyce Bulay at Mainebiz, click HERE.
Mike Anderson, Malone Commercial Brokers
For additional information about the property or for leasing or sales inquiries, please contact Mike Anderson.
John Doyon of Malone Commercial Brokers brokered the $1.1 M sale of this property that was once a working farm. Two of five parcels were included in the transaction. Origin, an apparel manufacturer, plans to build a manufacturing facility on the land. For the whole story, read the full Mainebiz article HERE.
338 Wilton Rd | Farmington
MCB’s own Joe Malone and Jennifer Small brokered the sale of this 16,379 SF historic building in the epicenter of the Old Port waterfront area.
Click to read the full article HERE.
Maine Public bought the century-old Galt Block and adjacent parking at 35 Commercial St. in Portland, with the plan to build a new facility on the parking lot and sell the building. Read the full MaineBiz article HERE.
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