482 Congress Street, Portland Makes Portland Press Herald's Transaction of the Month

June 29, 2008 in News

Publication: Portland Press Herald/Maine Sunday Telegram

After an ownership that began in 1844, J.B. Brown & Sons has sold its multi-tenanted office building at 482 Congress Street in Portland. Finalized in May, the property was sold to Edmund Wheeler who also owns 511 Congress Street located across the street. The sale included a 52,610+/- square foot office building and an adjacent parking lot that faces the Cumberland County Civic Center. “I think the sale was a win for both Edmund Wheeler and J.B. Brown & Sons,” says Matthew Cardente of Cardente Real Estate who brokered the sale of 482 Congress Street and also handles the brokerage for several other properties owned by J.B. Brown & Sons.

“Finding solid investment properties in Downtown Portland has been difficult over the last several years, and this property offers long term upside to the buyer. On the other hand, J.B. Brown & Sons can focus even more of their attention to reshaping its properties that offer additional development potential.”




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