Commercial Real Estate Market in Portland on fire

September 5, 2013 in Articles

Author: David Harrigan
Publication: Portland Press Herald
One of the most well known commercial buildings of Portland's skyline, the People's United Building, sold earlier this month for $5,550,000.  The 10-story office building is located in Monument Square at 465 Congress St. and provides 84,000+/- square feet of office and retail banking space. Previously known by many as the Maine Bank & Trust Building, the former bank was acquired by People's United in 2009.  People's United remains a major tenant in the building, occupying five floors in this landmark property.  465 Congress Street sold to 5 Monument Square, LLC, a commercial real estate investor and developer with major holdings in the Old Port and other areas throughout greater Portland.  Karen Rich, Partner & Vice President of Cardente Real Estate, represented the seller, L. E. Springer Inc. in the sale and the Purchaser was represented by Steven Baumann of Compass Commercial Brokers.




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