209 Western Avenue, South Portland Makes Portland Press Herald’s Transaction of the Month

November 20, 2006 in News

Publication: Portland Press Herald

The sale of 209 Western Avenue in South Portland is this month’s featured property (See photo below). REJ I, LLC purchased this 15,700 square foot, multi-tenanted retail complex for $4,627,000. This year old retail strip center’s tenants include Costa Vida Mexican Restaurant; Maine Roasters Coffee; Subway; Snip-Its Haircuts for Kids; Pom’s Thai Taste and American General Finance. The seller—Vincent Maietta of V&E Enterprises— built and developed this building. Karen Rich of Cardente Real Estate represented the seller. Steve Baumann of CB Richard Ellis/ The Boulos Company represented the buyer.

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New Firm’s Growth Shows Market Strength

November 7, 2006 in News

Author: Frank Monetello, MAI
Publication: Portland Press Herald

Looking to create a better alternative for businesses in Maine, Matthew Cardente founded Cardente Real Estate in July of 2005. Since opening its doors, Cardente Real Estate has grown to five full time commercial brokers with over 25 years of combined experience.

The brokerage team includes Karen Rich; a leading commercial broker in Greater Portland since 1991, Greg Perry who was the first to join CRE and has a long history of broker sales and representation, Nathan DeLois; an active commercial broker in Maine for the last five years, Michael Cardente who helped found the company and carries his sales agent license, Emily Pickering; CRE Office Manager, and Matthew Cardente who is the owner and Designated Broker.

Cardente Real Estate is a full service commercial brokerage that specializes in all aspects of the sale of leasing of commercial real estate and businesses in Maine and New Hampshire. Cardente says: “We have been fortunate to work on projects such as Western Avenue Crossing, a large retail strip in South Portland; Thompson’s Point, a considerable industrial project in Portland; several significant land development parcels in Saco; and other commercial properties from Kittery to Bangor.”

Cardente Real Estate is located at 299 Forest Avenue in Portland, across from the University of Southern Maine Library.

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Creative Investment Solutions

November 3, 2006 in Articles

Author: Nathan DeLois
Publication: Northeast Real Estate Journal

In 2001, the tech-sector busted and many major cities lost large tenants who left behind empty office space. In Portland however, it was business as usual. By 2003, the national vacancy rate was over 16% while Greater Portland’s vacancy rate was just over 6%. Needless to say, investors found this scenario attractive and income-producing investment properties were unloaded by the handful to local and out-of-state investors alike. While, Maine remains a stable real estate investment market, this fact is no longer a secret. And, as the demand for tenanted real estate continues to outweigh the supply over the past couple years, it takes a creative new approach to yield high investment returns. (Continued on PDF)

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