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V O L . X X I I N O. X X I X 92 BO O K O F L I S T S 2 0 17 R E A L E S TAT E Maine's largest commercial property sales Ranked by sale price, 2015 Property location(s) Sale price Square footage Buyer Planned use Seller Commercial real estate broker(s) 1 1 & 2 Portland Square Portland $66,100,000 225,000 North River IV LLC Office/investment RREEF America REIT III-Z4 LLC CBRE|The Boulos Co. Cushman Wakefield 2 46A Tamarlane 1 Portland $50,250,000 309 units Chestnut Realty Management Apartments/investment Resource Real Estate Inc. CBRE|The Boulos Co. 3 100 Middle St. Portland $35,300,000 195,000 Albany Road Real Estate Partners Office/investment Middle Street Office Tower A&B Associates CBRE|The Boulos Co. 4 India, Fore, Thames & Hancock St. Portland $20,000,000 56,628 2 Portland Norwich Group LLC Commercial and residential redevelopment Ocean Gateway Garage LLC NAI |The Dunham Group 5 167 Fore St. Portland $13,100,000 211,771 2 167 Fore St. LLC Parking garage Portland Norwich Group LLC NAI |The Dunham Group 6 400, 500 & 600 Southborough South Portland $11,000,000 106,503 400 Southborough LLC Investment RREEF Harnden Commercial Brokers Cushman Wakefield 7 315 Cumberland Ave. Portland $7,950,000 243,000 3 Northeast Investors LLC Parking garage LE Springer Inc. NAI |The Dunham Group 8 461 Cumberland Ave. Portland $6,965,000 74 units I-95 Portland Properties I LLC Apartments/investment East End Holdings LLC CBRE|The Boulos Co. 9 65 Portland Road Kennebunk $6,925,000 88,840 Property Partners LLC Retail GI Kennebunk LLC Paragon Commercial Real Estate Cardente Real Estate 10 57 Baywood Lane Yarmouth $5,400,000 56 units Taymil Partners Apartments/investment Wishcamper Properties CBRE|The Boulos Co. 11 28 Pond View Drive Scarborough $5,380,000 74,976 23 Pond View LLC Investment Estes Investments LLC NAI |The Dunham Group 12 315 Marginal Way Portland $5,378,000 29,216 Cianchette Family LLC Retail/office Southern Maine Properties Co. Malone Commercial Brokers Inc. 13 One Monument Way Portland $5,240,000 47,497 East End Holdings LLC Office/retail/investment One Monument Way LLC CBRE|The Boulos Co. 14 123 Darling Ave. South Portland $5,120,000 58,902 Darling Avenue Realty LLC Office/investment Unum Life Insurance Co. of America CBRE|The Boulos Co. 15 26 Parkway Drive Scarborough $5,050,000 95,000 Iron Mountain Information Management LLC Warehouse Commodities Warehouse LLP Malone Commercial Brokers Inc. Jones Lang LaSalle 16 55 Hutcherson Drive Gorham $4,745,000 114,232 CM Hutcherson LLC Industrial/investment GR I Gorham LLC CBRE|The Boulos Co. 17 125-133 Grant St. Portland $4,335,000 N/A Woodford Highland LLC Investment EJH Properties, Low Income Properties LLC and AGH Properties LLC Vitalius Real Estate Group Maine's largest commercial property sales Ranked by sale price, 2015 Property location(s) Sale price Square footage Buyer Planned use Seller Commercial real estate broker(s) 1 1 & 2 Portland Square Portland $66,100,000 225,000 North River IV LLC Office/investment RREEF America REIT III-Z4 LLC CBRE|The Boulos Co. Cushman Wakefield 2 46A Tamarlane 1 Portland $50,250,000 309 units Chestnut Realty Management Apartments/investment Resource Real Estate Inc. CBRE|The Boulos Co. 3 100 Middle St. Portland $35,300,000 195,000 Albany Road Real Estate Partners Office/investment Middle Street Office Tower A&B Associates CBRE|The Boulos Co. 4 India, Fore, Thames & Hancock St. Portland $20,000,000 56,628 2 Portland Norwich Group LLC Commercial and residential redevelopment Ocean Gateway Garage LLC NAI |The Dunham Group 5 167 Fore St. Portland $13,100,000 211,771 2 167 Fore St. LLC Parking garage Portland Norwich Group LLC NAI |The Dunham Group 6 400, 500 & 600 Southborough South Portland $11,000,000 106,503 400 Southborough LLC Investment RREEF Harnden Commercial Brokers Cushman Wakefield 7 315 Cumberland Ave. Portland $7,950,000 243,000 3 Northeast Investors LLC Parking garage LE Springer Inc. NAI |The Dunham Group 8 461 Cumberland Ave. Portland $6,965,000 74 units I-95 Portland Properties I LLC Apartments/investment East End Holdings LLC CBRE|The Boulos Co. 9 65 Portland Road Kennebunk $6,925,000 88,840 Property Partners LLC Retail GI Kennebunk LLC Paragon Commercial Real Estate Cardente Real Estate 10 57 Baywood Lane Yarmouth $5,400,000 56 units Taymil Partners Apartments/investment Wishcamper Properties CBRE|The Boulos Co. 11 28 Pond View Drive Scarborough $5,380,000 74,976 23 Pond View LLC Investment Estes Investments LLC NAI |The Dunham Group 12 315 Marginal Way Portland $5,378,000 29,216 Cianchette Family LLC Retail/office Southern Maine Properties Co. Malone Commercial Brokers Inc. 13 One Monument Way Portland $5,240,000 47,497 East End Holdings LLC Office/retail/investment One Monument Way LLC CBRE|The Boulos Co. 14 123 Darling Ave. South Portland $5,120,000 58,902 Darling Avenue Realty LLC Office/investment Unum Life Insurance Co. of America CBRE|The Boulos Co. 15 26 Parkway Drive Scarborough $5,050,000 95,000 Iron Mountain Information Management LLC Warehouse Commodities Warehouse LLP Malone Commercial Brokers Inc. Jones Lang LaSalle 16 55 Hutcherson Drive Gorham $4,745,000 114,232 CM Hutcherson LLC Industrial/investment GR I Gorham LLC CBRE|The Boulos Co. 17 125-133 Grant St. Portland $4,335,000 N/A Woodford Highland LLC Investment EJH Properties, Low Income Properties LLC and AGH Properties LLC Vitalius Real Estate Group C O N T I N U E D O N P A G E 9 0 » A record-breaking year in real estate C ommercial real estate sales had some record- breaking moments in the past year. Portland was undeniably the epicenter of Maine's largest real estate deals, according to the list of Maine's largest commer- cial property sales. At No. 1 was the s ale of the downtown complex of One and Two Portland Square, which sold for $66 million. The property, built in the 1980s and comprising 260,000 square feet, includes tenants like TD Bank, Verrill Dana and H.M. Payson. The seller was RREEF America, a real estate investment trust owned by Deutsche Bank. The buyer was North River Co., a New York-based com- mercial real estate development fi rm and an affi liate of Waterfront Maine. At the time, the deal was called the largest investment sale in the city's history. At No. 2, southern Maine's relative lack of housing may have contributed to the demand for the Tamarlane holdings, which included three townhouse and apart- ment complexes in Portland and Scarborough. At $50 million, it was the largest residential property sale in greater Portland, brokers said at the time. The parcel sold at a premium, the broker said, because rents had increased by 20% in the past year. The buyer was Chestnut Realty Management in Springfi eld, Mass. At No. 3 was another offi ce building, 100 Middle St., which sold for $35.3 million to Boston-based Albany Road Real Estate Partners. The building, totaling 195,000 square feet, was developed in the late 1980s by Michael A. Liberty. Tenants in the building include Bernstein Shur, Morgan Stanley, Citizen's Bank, Berry Dunn and Eaton Peabody. Real estate values continue to rise As dizzying as the numbers were in 2015, the market continues to be strong. In May 2016, in South Portland, another record-setter was the sale of two apartment complexes — Redbank Village and neighboring Liberty Commons — for $87.5 million to Hingham, Mass.-based Jones Street Investment Partners. The seller was Dallas-based Lone Star Funds. Demand for space continues unabated. We've seen it with offi ce and residential space, but industrial and warehouse space has also been in demand. Casco Bay Steel acquired the former Megquier & Jones steel fabrication plant in South Portland in May 2016, paying $3 million. While deals elsewhere in the state weren't as large or as frequent, a deal in Bangor captured some attention. Adam Moskovitz of ANM Properties acquired a package of six 19th and 20th century buildings on Bangor's Exchange Street. Terms of the deal were not undisclosed, though the asking price had been $1.95 million. — L a u r i e S c h r e i b e r P H O T O S / C O U R T E S Y O F C B R E | T H E BO U L O S C O. Two Portland Square. One Portland Square.