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V O L . X X V I I N O. X X V I I I 84 BO O K O F L I S T S 2 0 2 2 R E A L E S TAT E Maine's largest commercial property sales Ranked by sale price in 2021 as of November Property location(s) Sale price Square footage or units Buyer(s)/ Seller(s) Planned use Commercial real estate broker(s) 1 645 Congress St. Portland $12,965,000 56,410 Gastonia LLC/ Bayside Maine LLC Multi-use Porta & Co. 2 5 Davis Farm Road Portland $11,750,000 N/A 5 Davis Farm Road LLC/ Pizzagalli Properties LLC Office Maine Realty Advisors Stan Johnson Co. 3 178-188 Middle St. 4 Canal St. Portland $11,700,000 68,705 Cow Plaza 4/Fresnel LLC/ Middle Street Holdings LLC N/A Malone Commercial Brokers the Boulos Co. 4 35 Commercial St. Portland $10,760,000 38,000 Maine Public Broadcasting Corp./ Essex North Commercial LLC Office Malone Commercial Brokers 5 Bar Harbor Manor 47 Holland Ave. Bar Harbor $8,100,000 43 room Bar Harbor Manor LLC/ Brandon & Monika McCallion Hospitality Swan Agency Real Estate 6 43 Baxter Blvd. Portland $7,200,000 24,524 Baxter 43 Holdings LLC/ Chabot Street LLC Medical office Porta & Co. 7 Patriot Common Brunswick $6,900,000 73 units Congress Circle Development LLC/ Patriot Brunswick Holdings LLC Residential Malone Commercial Brokers 8 2 Market St. 185 Commercial St. Portland $6,110,000 16,379 161 Commercial Street LLC/ RobDog Realty LLC Office and parking Malone Commercial Brokers Compass Commercial Brokers 9 5 India St. Portland $6,100,000 20,325 J. Alfred Poor Block LLC/ EssexNorth 5 India Street LLC Multi-family Malone Commercial Brokers 10 15 Lund Road Saco $6,000,000 83,322 Ironsides Sports Center LLC/ Maine Sports Realty Inc. Mixed-use the Boulos Co. Keller Williams 11 238 Riverside St. Portland $5,400,000 59,494 Johnstone Supply/ Davison/Bisson LLC Industrial the Boulos Co. Malone Commercial Brokers 12 20 Morin St. Biddeford $4,975,000 52,000 20 Morin St. LLC/ Veridis LLC Industrial the Dunham Group 13 231 State St. Portland $4,800,000 31 unit BJB Realty LLC/ Northgate Apartments LLC Multi-family Porta & Co. 14 55 Bradley St. Westbrook $4,700,000 N/A 55 Bradley LLC/ Two Eisenhower Drive LLC Warehouse F.O. Bailey Real Estate 15 17 Foss Road Lewiston $4,400,000 36,207 Gastown LLC/ Richard Hale Industrial the Dunham Group 53 Darling Ave. South Portland $4,400,000 29,000 53 Darling Avenue LLC/ 53 Darling LLC Office the Boulos Co. 17 1601 Congress St. Portland $4,230,000 29,000 Del Boca Vista LLC/ OGH Realty LLP Office the Dunham Group 18 151 John St. Portland $3,800,000 31,718 North River Co. LLC/ GPP Properties 1995-1 LLC Industrial the Dunham Group 19 Inn at Sunrise Point 55 Sunrise Point Lane Lincoln $3,500,000 12 room Matt and MJ Ruffing/ DHHII Ventures LLC Sunrise Point LLC Hospitality Swan Agency Real Estate 20 Multiple-property portfolio Biddeford $3,400,000 N/A AG207 LLC/ 4A Property LLC Multi-family Malone Commercial Brokers Coldwell Banker 21 17 Washington Ave. Sanford $3,030,000 33 unit Besso LLC/ RSP Sanford LLC Multi-family Maine Realty Advisors Benchmark Real Estate 22 174 Cash St. South Portland $3,000,000 34,421 Sea Bags LLC/ 174 Cash Street LLC Industrial Porta & Co. Fishman Realty Group 23 54 York St. $2,900,000 22,446 54 York St. LLC/ Commercial Malone Commercial Brokers Maine's largest commercial property sales Ranked by sale price in 2021 as of November C O N T I N U E D O N P A G E 8 6 » Portland commercial buildings continued to be hot property B y P e t e r V a n A l l e n T he largest commercial sale in 2021 flew largely under the radar at the time. The building, at 645 Congress St. in Portland, sold for $12.965 million and included 56,400 square feet of what's referred to as multi-use space. It's a University of Southern Maine dorm redevel- oped 15 years ago. The seller was Bayside Maine LLC. Part of the structure was torn down and it now has 56 apartments, plus commercial spaces. It also includes roughly 100 parking spaces — a premium commodity in parking-strapped Portland. There's also developable land as part of the parcel, with space to develop up to 170 new units. The buyer, Gastonia LLC, was a New York family. Joseph Porta of Porta & Co., which brokered the deal, says the buyer was from New York City and ac- quired the property through a 1031 tax exchange, which allowed him to buy and sell comparable properties without tax implications. Like more and more deals, this one was "off mar- ket," meaning it was all handled without having having been put up for sale. Dismantling a developer's portfolio Other deals of note concerned the passing of developer Ari Aftandilian, who had had an active role in develop- ing Portland's East End, including the Residence Inn, AC Hotel and Twenty Thames condominiums. After his death in August, his company, Essex North Commercial LLC, started liquidating some of the holdings. Among them was No. 4 on the list, 35 Commercial St., sold for $10.76 million. The property includes an office building with a range of tenants and, crucially in Portland, a parking lot. The buyer, Maine Public Broadcasting Corp., plans to develop a new building on the surface lot which will serve as its new headquarters. It will move from rented space on Marginal Way in the East Bayside neighbor- hood of Portland. The other property that was part of Essex North/ Aftandilian holdings was 5 India St., which sold for $6.1 million to a limited liability corporation, J. Alfred Poor Block LLC. G O O G L E E A R T H 645 Congress St.