Growing consulting firm finds great visibility in former Weight Watchers building in South Portland

A growing consulting firm that’s leasing space in Scarborough found the space it needed to grow and excellent visibility in its purchase of a South Portland building formerly occupied by Weight Watchers of Maine Inc. S&W Real Estate Co. LLC bought 241 Running Hill Road from Weight Watchers of Maine Inc. for $1.85 million. 

The 10,530-square-foot Class A office building on 11.5 acres, built for Weight Watchers in 2003, was listed for $2.295 million. The property includes a 74-space parking lot. The corner location is considered premier for the Maine Mall commercial area, which has 15,000 daily traffic counts.

Jennifer Small of Malone Commercial Brokers and Justin Lamontagne of the Dunham Group brokered the transaction.

To read the full article from MaineBiz, click HERE.

In downtown Freeport, a five-property commercial portfolio changes hands

An investment portfolio of four commercial buildings and a 45-car parking lot in downtown Freeport sold to local investors for its value-add opportunity.

The buildings — at 6 Mill, 24 Bow, 42 Main and 76 Main streets —  total 48,886 square feet and include retail tenants Orvis, Polo Ralph Lauren, FjallRaven, Estee Lauder and the Loft. The parking lot is at 32 West St.

“We saw tremendous potential here for the right buyer who could see the strong bones Freeport Village already has and to grow that into the new vision currently taking hold there, and we think we found the perfect buyer at the right time and are excited to see how the new owners will contribute to the Freeport community,” said Mark Malone of Malone Commercial Brokers, who represented the seller.

To read the full article from MaineBiz, click HERE.

National clothing retailer lands in Old Port

A national clothes retailer headquartered in New York City will open its first Maine store at 75 Market St. in Portland’s Old Port this fall.

Madewell signed a five-year lease for a 5,532-square-foot space at the corner of Market and Middle streets. The lease was brokered by Peter Harrington of Malone Commercial Brokers for East Brown Cow and Randy Baker of Open Realty Advisors for Madewell. 

Madewell, best known for its signature denim, is scheduled to open ahead of the holiday shopping season in one of two ground-floor retail suites. Store hours and information will be made available in the coming weeks.  

To read the full article from MaineBiz, click HERE.