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Investment group sees value in Topsham retail

A group of southern Maine investors was looking for long-term properties in strong growth communities in and around Greater Portland. They found it at a retail center located at 126 Main St. in Topsham. Zenith Investment Group bought the property from Topsham Place LLC for $1.55 million. Josh Soley […]

Greyhound’s Portland bus station building up for sale

The building that houses the Greyhound bus station on Congress Street has been put on the market. The Boulos Company is accepting offers for the site through Dec. 19. Michael Kelley / The Forecaster PORTLAND — The longtime home of the Greyhound Bus terminal is on the market, leaving […]

Woodforest National Bank Creates $20 Million Opportunity Zone Fund to Support Economic Revitalization Across its 17-State Footprint

Woodforest National Bank Creates $20 Million Opportunity Zone Fund to Support Economic Revitalization Across its 17-State Footprint – Pictured from left to right: Sam Spencer, CEO and Managing Director, CEI-Boulos Capital Management; Betsy Biemann, CEO, Costal Enterprises, Inc. (CEI); Noelle St.Clair, Community Development Relationship Manager, Woodforest National Bank; and […]

CBRE Brokers $21M Sale of Portland, Maine Apartment Community

CBRE has arranged the $21 million sale of Bayside Village, a 101-unit apartment community in Portland, ME for $20.8 million. Built in 2008, the property consists of a five-story residential building with retail and garage parking on the first floor. The property has historically been rented as a student […]

New podcast features Maine developers and real estate investors

Greg Boulos, behind the camera at right, interviews his brother Joe Boulos, a broker and developer, in an episode of “The Boulos Beat” podcast. Collin Henderson of Trail Marker Production is in the foreground and Abigail Henderson, head of social media at Boulos, is to the right. A new […]

People & Business: Oct. 30

Employees of Tyler Technologies in Yarmouth with thousands of bagged socks they donated to Preble Street in Portland. Contributed Giving back After conducting its annual sock drive recently, Tyler Technologies, a Yarmouth provider of software and services for the public sector, donated 9,477 pairs of socks to Preble Street […]

Disabilities services provider sees growing demand, driving need for Lewiston facility

Creative Work Systems has purchased a 5,500-square-foot office building in Lewiston to accommodate growing demand for its services, which help people with disabilities to live and work in their communities. Creative Work Systems bought 430 Lisbon St. from Seven Rivers Corp. for $350,000. Justin Lamontagne and Greg Hastings from […]

Downtown deals advance Lewiston’s plans for redeveloped neighborhoods

The purchase of three neighboring properties on Pine Street, in downtown Lewiston, is aimed at advancing plans to improve the city’s affordable and market-rate housing stock and general neighborhood revitalization. Lewiston/Auburn Community Housing Inc. bought 40 Pine St. from the estate of James R. Costello Sr. for $377,000. The […]

Developers break ground on commercial section of Downs project

Crews set up their construction machinery on Wednesday for Friday’s groundbreaking ceremony at the recently cleared site of the Innovation District at The Downs in Scarborough. The developers of a new mixed-use complex in Scarborough broke ground on the commercial center of the sprawling project Friday. The Downs’ Innovation […]

GO Lab gets $2.4M in FAME financing and other funds for Madison plant

GO Lab Inc., the Belfast building products manufacturer that last month closed on its purchase of the shuttered Madison Paper Industries mill, has received $2.4 million in financing to help with the deal and begin retrofitting the plant. The funding package includes a $1.2 million loan underwritten by the […]

Bids for a Lewiston office building will start at more than $1 million

This office building at 17-19 Mollison Way in Lewiston is the latest in Maine to hit the auction block at online auctioneer Ten-X. The online auction is Sept. 23-25, 2019. A Lewiston office building will go up for sale in an online auction by the same auctioneer that sold […]

Growing transportation company buys former Oxford wood products factory

A former wood products factory in Oxford is viewed by its buyers as a great site for their transportation company. But a fair amount of clean-up at the site will have to be completed first. RideSource Inc. purchased a 68,175-square-foot light manufacturing complex on 15 acres, at 822 Main […]

Cambria Portland Hotel, part of massive East End development, breaks ground

A groundbreaking ceremony was held Monday for a 102-room “brewtel” that will be part of the 211,000-square-foot Bateman Partners development in the city’s East End. The focus Monday was the start of construction for the six-story, 72,797-square-foot Cambria Portland Hotel, which is being developed in partnership with Shipyard Brewing […]

GO Lab closes deal for Madison paper mill

GO Lab Inc., the Belfast building products manufacturer that in April announced its intent to buy a defunct paper mill in Madison, has completed the purchase. In a news release Tuesday, the company said it has closed on the 600,000-square-foot Madison Paper Industries mill, shuttered since 2016. The property […]

Reservations pour in for Scarborough business park

Plans for Maine’s first mixed-use business park in 25 years are progressing quickly, with only seven lots still up for grabs inside The Downs in Scarborough. Known as the Innovation District, the 154-acre subdivision will be a core part of a multi-purpose development that will also include a residential […]

Six downtown Lewiston properties sold for $6.39M

A portfolio of six downtown Lewiston properties has been sold for $6.39 million. Little Canada LLC, controlled by Matt Hancock, bought the properties at 500 Canal St. from Franklin Properties and Franklin Property Trust, according to a news release Wednesday morning. The portfolio comprises three fully-leased Class A office […]

Watching the river flow: Along the Kennebec, developers and residents are returning to the river

North River Co., the new owner of the Lockwood Mill in Waterville, considers the building a diamond in the rough — it’s worse for wear after years of vacancy, but it’s a classic 19th-century mill with soaring ceilings and windows, 3-foot brick walls and pine floors. “They don’t build […]

Location key in couple’s new Portland Back Cove veterinary practice

A pair of veterinarians looking to form their own practice have found what they consider the perfect site, close to the region’s vet-focused industries and in a former medical office on the picturesque Back Cove. Veterinarians Nicole and Matthew Fortin plan to open their practice, Back Cove Animal Hospital […]

Augusta’s Turnpike Mall, historic but beset by vacancies, sold for $3.2 million

The largely empty 214,900-square-foot Turnpike Mall has been sold to a New York real estate development firm that specializes in acquisition of retail and office buildings. The $3.2 million sale closed in May, according to The Boulos Co.’s website, after being approved by a federal court in March. The […]

Mill buildings in Waterville sold and slated for development

Developer Paul Boghossian holds a drawing of the Lockwood Mills complex in Waterville, including CF Hathaway Co. mill, in a presentation to members of the Waterville Rotary Club in 2008. Tuesday it was announced that he sold the remaining two Lockwood mills to the North River Company, the current […]

Robust home sales draw 2 new furniture stores to South Portland

Two out-of-state furniture chains are opening stores in Greater Portland. Here is a living room display from the Jordan’s Furniture store in Reading, Massachusetts, one of the two chains coming to Maine. The other, Bernie & Phyl’s, opens in the former Toys R Us space Monday. Well-heeled home buyers […]

The Boulos Company sells 43,000 SF industrial warehouse for $4.25 million

Seabrook, NH According to The Boulos Co., one of Northern New England’s largest commercial real estate firms serving owners, investors, and tenants, Torrington Properties has purchased a 43,000 s/f industrial warehouse located at 9 Batchelder Rd. from Corium Real Estate Group. The transaction included Functional Coatings signing a lease […]

Jordan’s Furniture to take former Filene’s space at Maine Mall

A Massachusetts-based furniture chain store is expanding to South Portland. Jordan’s Furniture announced Tuesday it intends to occupy the former Filene’s/Bon-Ton store’s space in the Maine Mall. It will be the company’s seventh store in New England. A spring 2020 opening is planned, according to a news release from […]

Gelato Fiasco selling its Brunswick factory, after co-packing move to Michigan

Gelato Fiasco, a fast-growing grocery and retail brand that last year outsourced production to a Michigan company, is selling its production facility in Brunswick. The food-grade production facility, which Gelato Fiasco dubbed the “flavor foundry,” is listed by The Boulos Co. for $1.35 million. It’s located at 2 Industry […]

Second Phase of Redevelopment Advances at The Downs in Maine

SCARBOROUGH, Maine – The Town of Scarborough’s Planning Board has granted preliminary approval for Crossroad Holdings’ Innovation District – a 154-acre subdivision to become the future home of light industrial, manufacturing, tech commercial and retail end-users. The Innovation District is located at the northernmost section of the property, abutting […]

The Buzz: Lewiston’s where it’s at: New coffee, new proposed school, new cricket snacks

This week the Buzz is kickin’ and moving. First up: A little caffeine pick-me-up. Tulio DeAlmeida makes an iced macchiato for himself at the Auburn Aroma Joe’s earlier this winter. The franchisee got approval last week to open a new location in Lewiston. (Sun Journal file photo by Andree […]

The Boulos Company names new partner

The Boulos Company | Contributed PORTLAND, Maine, and PORTSMOUTH, New Hampshire — The Boulos Company, Northern New England’s largest commercial real estate firm serving owners, investors, and tenants throughout Maine and New Hampshire, announced Monday that broker Nate Stevens has been promoted to partner. “Nate is a well-respected broker […]