Issue link: https://nebusinessmedia.uberflip.com/i/1272107
W W W. M A I N E B I Z . B I Z 15 J U LY 2 7 , 2 0 2 0 F O C U S R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G Construction lawyers with hands-on building experience. What a concept. At Eaton Peabody, Maine's state-wide law firm, we're proud to offer legal services to the construction industry with advice from lawyers who know the business because they've been in it themselves. Construction practice lead, Dave Pierson was a contractor and construction manager for over 15 years before he became a lawyer. Eaton Peabody can advise you, helping take your project Eaton Peabody can advise you, helping take your project from beginning to end. Our learning curve is short, but our experience is long. We'd be honored to put it to use for you. 1-800-564-0111 | eatonpeabody.com Augusta | Bangor | Brunswick | Ellsworth | Portland We've Walked a Mile in Your Work Boots. L I S T S C O M P I L E D B Y T I M O T H Y D O Y L E L I S T S C O M P I L E D B Y T I M O T H Y D O Y L E 1 Sales completed from June 1, 2019, to May 31, 2020, were considered for these lists. S O U R C E : Each firm via survey, press releases, news reports and municipal assessors' records Property location Sale price/ Square footage Buyer(s)/ Seller(s) Commercial real estate broker(s) 1 120 Exchange St. / 400 Congress St. & Gateway Garage Portland $22.1 million 126,435 PO Square Portland LLC / A&M Partners Inc. The Boulos Co. 2 132 Marginal Way Portland $20.85 million 238,301 West Bayside Partners LLC / Blue Atlantic Portland LLC Porta & Co.; Boulos 3 51 Commerce Center Drive Augusta $19.2 million 105,500 Augusta ME I SGF LLC / CMCC Lot 14 LLC Boulos 4 600 Sable Oaks Drive South Portland $18.1 million 100,000 Atlantic Regional Federal Credit Union / Brookwood Sable Oaks Drive LLC NAI The Dunham Group; Boulos 5 7 Rand Road Portland $12.8 million 242,965 Brockway-Smith Co. / Rand Road Holdings LLC NAI Dunham; Boulos MAINE'S LARGEST COMMERCIAL PROPERTY SALES, BY SALE PRICE 1 Tenant/lessee Property location Square footage Lessor Commercial real estate broker(s) 1 Abbott Diagnostics Scarborough Inc. 5 Bradley Drive, Westbrook 126,072 5 Bradley Drive Westbrook LLC Boulos 2 EIMSKIP USA Iceland Steamship Inc. 125 Industrial Way, Portland 100,600 Stag Portland LLC Boulos; Savills 3 BerryDunn Portland 87,906 Unum Life Insurance Co. of America Boulos 4 WEX Inc. 100 Fore St., Portland 83,000 100 Fore Street LLC NAI Dunham; Compass Commercial Brokers 5 Sun Life Financial 58 Fore St., Portland 76,785 58 Fore Street Porta; Harnden Commercial Brokers; Cushman & Wakefield MAINE'S LARGEST COMMERCIAL PROPERTY LEASES, BY SQUARE FOOTAGE 1 120 Exchange St. / 400 Congress St., Gateway Garage — $22 million 5 Bradley Drive. Westbrook — 126,072 sq. ft. TOP SALE TOP LEASE he commercial real estate market was hot throughout 2019. We don't know yet what will happen in 2020, as demand for com- mercial space shifts (see Page 16). The top commercial sale was for 120 Exchange St. and 400 Congress St., which included the Gateway Garage — a key acquisition in itself, given the shortage of parking in downtown Portland. The top lease was to Abbott Diagnositics, which is ramping up production of COVID-19 test kits (see Page 26). F O C U S S TA R T S O N F O L L OW I N G PA G E » T P H O T O / C O U R T E S Y BO U L O S C O. P H O T O / G O O G L E M A P S