110 Exchange Street, Portland Makes Portland Press Herald’s Transaction of the Month

December 4, 2007 in News

Publication: Portland Press Herald


Cardente Real Estate is pleased to announce that Salt, Inc. has sold their 13,305+/- square foot office/ retail property located in the Old Port at 110 Exchange Street, Portland.

The Salt Institute for Documentary Studies has owned the property since 1999 and is in the process of finalizing their new Portland location. The property was sold for $1,375.000.

This transaction was brokered on behalf of the Seller, Salt, Inc., by Michael Cardente of Cardente Real Estate and on behalf of the Purchaser, The Oneten Company, LLC. by Daren Hebold of RAM Harnden.

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Targeting areas of growth

December 2, 2007 in Articles

Author: Greg Perry
Publication: Portland Press Herald/Maine Sunday Telegram

Developers, investors and brokers are always trying to anticipate hot markets and areas of potential growth.

As we prepare to ring in the New Year, let’s take a brief look at select areas in Greater Portland poised for significant growth in 2008 and beyond.

In Portland, Whole Foods grabbed people’s attention in the Bayside area, but it was really just the

beginning.

Looking ahead, another large development in Bayside is the 259,000-square-foot, 10-floor office building anchored by InterMed, under construction at 84 Marginal Way and scheduled for completion in 2008.

In South Portland, Mill Creek and the immediate surrounding area are showing signs of revitalization.

Several factors contributed to renewed interest after traffic was diverted to the Casco Bay Bridge: close proximity to downtown Portland, favorable demographics and increased traffic on Broadway and Route 77. (Continued on PDF)

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Planning your exit strategy/ Plan well before you sell

November 11, 2007 in Articles

Author: Brian Giguere
Publication: Portland Press Herald/Maine Sunday Telegram

Between 1946 and 1964, about 75 million people were born in the United States – the “baby boom.” In less than two months, millions of these baby boomers will begin to retire, about 16 percent of which own their own business.

Not surprisingly, many business owners are too busy performing the daily operations and don’t have an exit strategy.

For all you business owners out there, PLAN AHEAD! The largest asset you own may very well be your business.

Here are two things to keep in mind while planning your exit strategy. (In another column in the

near future, I’ll address several more.)

First, choose the right people to work with and pick the right time. Good business brokers are ones that aren’t afraid to tell you, “This isn’t the right time for you to sell.” Many businesses need to improve their growth or some other aspect for a few years prior to a sale as selling on an upward trend will gain the owner a greater profit.

Second, determine a realistic price and be willing to hold some paper. (Continued on PDF)

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Lease, purchase options differ

October 7, 2007 in Articles

Author: Nathan DeLois
Publication: Portland Press Herald/Maine Sunday Telegram

Recently a client asked me to find an industrial building to purchase in Portland, South Portland, Westbrook or Scarborough. Using an online database shared by most commercial real estate brokers in Greater Portland, I searched for industrial buildings ranging from 5,000 square feet to 10,000 square feet.

I was astounded at the results: On September 19, only four properties met these criteria, and one was under contract.

Wondering if this was a symptom of the industrial real estate market in general, I searched for space available for lease that fit the same parameters.

Using the same cities, size range and property type, I found 33 availabilities.

Although many available spaces for lease are in larger buildings with multiple units, the vast difference between sale and lease opportunities is striking. A few factors account for this difference. (Continued on PDF)

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A Fine Option For Investors

August 26, 2007 in Articles

Author: Greg Perry
Publication: Portland Press Herald/Maine Sunday Telegram

It is widely agreed that under most circumstances, your first real estate purchase should be a permanent residence, but what about your second real estate investment? A lakeside cottage? Maybe an island home? What about a commercial property?

We often find that people don’t take the time to understand commercial investment before considering their real estate options. Buying a commercial property does not need to be a high risk venture exclusive to wealthy clients.

A buyer’s expectations and realized benefits should be very different from that of a residential real estate purchase.

In most cases, first time investors are looking for safer properties with tenants already in place.

Unlike residential tenants, lease terms for commercial tenants are usually a minimum of three to five years, so turnover is less of a concern.

In addition, most tenants provide a personal or corporate guarantee within the lease contract, which helps ensure that the tenant will uphold his or her financial responsibility. (Continued on PDF)

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