Old Port Portfolio Going to Auction

August 23, 2013 in Articles

Author: Staff

Cardente Real Estate is handling the local marketing of the Old Port Portfolio that is going up for online auction on September 23, 2013. This investment package consists of six buildings situated on two blocks totaling 49,567 +/- of leasable square footage.  Four of the buildings are contiguous and offer retail frontage on Fore Street, Union Street, and Wharf Street. The other two buildings are accessed by Wharf Street and Union Street.  The commercial portfolio includes a healthy tenant mix of restaurants, retail, and, residential. Current retail tenants include Buck's Naked BBQ, Oasis, Fore Play, Gorgeous Gelato, Pearl Lounge, Merry Table, Ollo Salon, Blazin Ace, 51 Wharf Restaurant, and Shine Salon. "This is an extremely rare opportunity to buy some of the best positioned commercial real estate Portland has to offer."said Michael Cardente, Broker/Partner at Cardente Real Estate and the one responsible for obtaining the local marketing of the portfolio. "Since their construction, these buildings have played a a major role in defining the Old Port; an area that has national recognition for it's restaurants and boutiques." The offering is located across the street from the Portland Harbor Hotel and the brand new Hyatt (currently under construction). Development and the redevelopment of commercial properties located on Portland's Peninsula has been ongoing and this package is positioned right in the middle of it all.  The general marketing of this investment package is a joint effort between Cassidy Turley and Cardente Real Estate. The Old Port Portfolio will be auctioned online, in its entirety, at www.auction.com starting September 23rd, 2013 and ending on September 25th, 2013. Cardente Real Estate will be providing tours of the buildings from 9 AM to 12 PM on September 6, 2013 and on September 16, 2013. To sign up for one of the property tour dates or to receive a general marketing brochure, please contact Cardente Real Estate at 207-775-7363.  Prospective buyers can also sign in onsite at the Cardente Real Estate table that will be located on Wharf Street. For information relating to the financials of the properties and to bid, interested parties must register online at www.auction.com.






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