After a year on the market, the Poland Crossing shopping center at 1385 Maine St. in Poland has new owners who hope to soon have two new tenants.
JH Holdings bought the 19,893-square-foot, three-building plaza from JTK Holdings with Drew Sigfridson from The Boulos Co. representing the buyer and Patrick Casalinova and Kevin Fletcher of Keller Williams Realty the sellers.
Dunkin’, Subway, Family Dollar, Northeast Bank and Saco Bay PT are already there, leaving two vacant spots to fill, one for 1,661 square feet and one for 2,760 square feet.
Boulos is marketing those spaces as “a great opportunity for quick service restaurants, salons, convenience/liquor stores, health care users and more.”
JH Holdings purchased the Poland Crossing shopping center at 1385 Maine St. in Poland from JTK Holdings. Occupants include Dunkin’, Subway, Family Dollar, Northeast Bank and Saco Bay PT. There are two vacant spaces to fill.
The new buyers, who are based locally with ties to Poland and Thompson Lake, according to a news release, sold a 2,235-square-foot building on St. John Street in Portland before buying Poland Crossing as part of a 1031 tax-deferred exchange.
“The sale of a small building and acquisition of three larger buildings is similar to a game-winning strategy in monopoly,” Sigfridson said. “This was an opportunity to sell a substantially appreciated asset and buy into a much larger property with more upside potential and significantly more annual income. The long-term prospects are excellent because the buyers know what is lacking in the Poland community and we will help fill the gaps in the market.”
Find the full article from the New England Real Estate Journal here: https://nerej.com/burke-and-white-of-the-boulos-co-broker-sales-transactions
