Conway Scenic Railroad Expands Shore Excursion Adventure with Acquisition of VIP Business

VIP Tour & Charter

Malone Commercial Brokers is pleased to announce the sale of VIP Tour & Charter, a motorcoach tour and charter company founded in 1985, to Conway Scenic Railroad. They will also be purchasing the real estate in the near future. Their plan is to occupy this premier location for many years to come.

Conway Scenic Railroad, renowned for its nostalgic excursion trains, is on track to revolutionize the cruise experience in Portland, Maine, with the acquisition of VIP Tours. The deal, brokered by Karen Rich and Cheri Bonawitz of Malone Commercial Brokers, marks a significant milestone in Conway Scenic Railroad’s strategy to grow and diversify its offerings.

Karen Rich noted that from the first meeting between the buyer and the seller, “the synergy and mutual respect was evident immediately.” Lana Sawyer, the owner of VIP, expressed her gratitude, stating, “Karen has truly been a pleasure to work with. It took some time to find the right people, but Karen didn’t give up on us. She was very instrumental in our journey to the end - day or night through thick or thin.”

For Dave Swirk, co-owner of Conway Scenic Railroad, the expansion is about creating a superior and rewarding experience for guests from around the world. As he noted to Seatrade Cruise News, “This is so rewarding to me. It’s so unique. It brings joy to my heart to see people enjoying this. You want to feel like you did something to make a difference in the world. This makes a difference.”

In emphasizing the significance of the VIP name, Rich stated, “Dave felt that the VIP name was essential to maintain as it has such a long and outstanding history in the transportation industry since they began 38 years ago.”

Sawyer shared her excitement for finding the right buyer, pointing out that Conway Scenic Railroad is “the perfect match for VIP Charter Coaches.” According to her, they share the vision and possibilities for VIP in the future.

The absorption of VIP tours includes a fleet of eight tour buses, two transit buses, and five shuttle vans which will enhance flexibility and allow for more competitive pricing for cruise lines. The company aims to create new and exciting tours in and around Maine, in addition to the train journey.

Exclusively Gluten-Free, Bam Bam Bakery Brings Refreshing New Option to Falmouth

125 Bucknam Road in Falmouth / Photo courtesy of Cassie Demick

We're thrilled to share some exciting news here at Malone Commercial Brokers – the successful leasing of a fantastic 1,961± square foot freestanding building at 125 Bucknam Road in Falmouth. This strategic move is set to significantly enhance the local business landscape, with Bam Bam Bakery, a trailblazer in the world of gluten-free baked goods, securing the lease from The Antonia Sotiropoulos Revocable Trust.

Bam Bam Bakery is no stranger to innovation, and this expansion is a testament to their commitment to providing top-notch, gluten-free delights to the Falmouth community and beyond. As the demand for high-quality gluten-free offerings continues to grow, Bam Bam Bakery is making strategic moves to ensure they can meet and exceed customer expectations.

The lease transaction, brokered by Mike Anderson of Malone Commercial Brokers, was a key factor in bringing this exciting venture to fruition. With a wealth of experience in commercial real estate, Anderson played a pivotal role in ensuring a seamless negotiation process that aligned with the goals of both parties.

Mike Anderson shared his insights on the transaction, saying, "Facilitating this lease for Bam Bam Bakery was a rewarding experience. The location at 125 Bucknam Road presents an exciting opportunity for the bakery’s growth, and I’m confident it will become a focal point for the community seeking high-quality gluten-free options. I look forward to witnessing Bam Bam Bakery’s continued success in this vibrant space."

Stay tuned for more updates as Bam Bam Bakery works to transform 125 Bucknam Road into a hub for exceptional gluten-free baked goods, further solidifying their position as a pioneer in the industry. We're proud to be a part of this growth story and look forward to seeing the positive impact it will have on the Falmouth community!

Prime 5-Building Industrial Portfolio Sold for $14.5M in Booming Maine Industrial Market

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.

Maple Grove Development: Phase 1 Breaks Ground on Ambitious Housing Project

Ground Breaking Ceremony at 35 Seavey Street

Excitement is in the air as the first phase of the Maple Grove development officially kicks off! The collaborative efforts of New Ventures, LLC, Avesta Housing, and the City of Westbrook are now bearing fruit as the groundbreaking ceremony took place at 35 Seavey Street. This marks the commencement of the ambitious three-phase project that promises to transform a 3.25-acre site into a thriving community.

The star of Phase 1 is a 65-unit apartment building, strategically located to set the tone for the entire development. The project, a brainchild of New Ventures, LLC, aims to create a diverse living space with a final vision that includes a total of 186 units. These units will cater to a spectrum of housing needs, offering a mix of affordable, workforce, and market-rate homes. The development seeks to address the growing demand for housing options in the state of Maine while fostering a sense of community and inclusivity.

Peter Harrington of Malone Commercial Brokers, representing New Ventures, LLC, played a pivotal role in securing the ideal location for this exciting venture. His dedication and expertise helped paved the way for the Maple Grove development to become a reality.

As the construction of the 65-unit apartment building gets underway, the community can anticipate further updates on the progress of this transformative project. The Maple Grove development promises not only to meet the housing needs of the area but also to create a vibrant and sustainable community for years to come.

Stay tuned for more news and milestones as Maple Grove evolves from a vision to a vibrant community, thanks to the dedication and collaboration of New Ventures, LLC, Avesta Housing, and the City of Westbrook. This development project is just embarking on its journey, and the future of commercial real estate in Maine holds great promise for contributing to similar initiatives aimed at enhancing housing options.