Three Generation Business Celebrates New Store

Mougalian Rugs opened quietly back on November 21, 2016 at 175 Anderson Street in Portland. Earlier this month the company held an open house/cocktail party to celebrate the new Mougalian Rugs store.

Mougalian Rugs has been in business for three generations, starting with Robert & Ruth Mougalian who first began selling rugs from a store in the back of their home in Buxton in the early 1970s.  In 1988, their son Randall, built a store for his parents in Scarborough.

Randall decided to move the store to downtown Portland to be in close proximity to the many new residential building projects and developments underway on the peninsula.  Mark Malone of Malone Commercial Brokers represented Mougalian Rugs in finding the new location at 175 Anderson Street.  He also represented Mougalian Rugs in the sale of its Scarborough property. Read more...

L-R: Brett Mougalian (3rd generation), Beth & Randall Mougalian, Mark Malone

MAR Foundation & MCAR Donate to Family Crisis Services

Family Crisis Services (FCS) held their 2017 Gala fundraising event on May 11th at the Portland Harborview Hotel.   Their goal was to raise $30,000.  John Doyon of Malone Commercial Brokers presented a $3,200 check on behalf of the Maine Association of Realtors (MAR) Foundation and Maine Commercial Association of Realtors (MCAR) to FCS Director Rebecca Hobbs in conjunction with the gala.  John has raised funds for FCS for over 20 years, and most recently worked in conjunction with the Women’s Council of Realtors with the MAR Foundation providing a matching contribution.  FCS paid tribute to the Women’s Council of Realtors which raises funds every year for FCS.  MCAR received an honorable mention.

Portland Elks Lodge Property To Be Redeveloped

Diversified Partners LLC and Fancy Sauce LLC have purchased a portion of the Portland Elks Lodge for $1,250,000.  The entire property included a 23,090± SF lodge building on nearly 7 acres at 1945 Congress Street.  Portland Lodge #188 BPOE of USA was the seller.  In a unique sale arrangement, the purchasers formed a three property condominium and acquired the development rights to the excess land on two of the condo units, while also reducing the Elks Lodge to 13,500+/- square feet and leaving the Elks Lodge in place, in soon to be renovated building.  The property went under contract in 2014 and closed April 20, 2017, after a long permitting process. 

Northland Enterprises will be developing the property into offices for Clark Insurance and a medical office building.  The lodge building will also be completely renovated for the Elks #188 Lodge.

Mark Malone, CCIM of Malone Commercial Brokers represented the Elks Lodge and Greg Boulos of CBRE/The Boulos Co. represented the buyers in the sale transaction.   Portland Press Herald 4/26/2017