Atlantic Place

Office for Sale
Sale Pending
Catylist Listing ID: 30749783
Property Subtypes: Business Park, Office Building, Other
Status: Pending
Building Size (RSF): 72,490 SF
Gross Land Area: 8.58 Acres
Sale Price: $12,500,000
Unit Price: $172.44 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Atlantic Place
Class of Space: Class B
Usable Size (USF): 72,490 SF
Sale Terms: Cash to Seller, Other
Cap Rate: 7.7%
Average Occupancy Rate: 100
Last Updated: 9/14/2021

Overview / Comments

72,629± SF Fully-Leased Office Complex Available

This three-building, office complex is located on 8.58 acres in one of Maine’s most desirable commercial corridors. It is located at the intersection of Foden Road and Darling Avenue, near the Maine Mall, Portland Jetport and immediately accessible to both I-95 and I-295. Its location, generous on-site parking, and flexibility in suite sizes has driven strong demand from regional office users. Rolling lease expirations offer a new owner limited downside with tenant turnover.

The tenant mix is diverse, including local and national companies in a variety of industries.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $157,922 (Annual)
Assessed Value - Total($) $7,996,100 (Annual)
Net Operating Income $962,126 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name US Cellular
Industry Type Other Services
Tenant Business Name UMHS
Industry Type Education Services
Tenant Business Name Maine Behavioral Health
Industry Type Health Care and Social Assistance
Tenant Business Name Loandepot
Industry Type Finance and Insurance
Tenant Business Name Atlantic Coast Title
Industry Type Information
Tenant Business Name Interim Healthcare
Industry Type Health Care and Social Assistance
Tenant Business Name Beacon Hospice
Tenant Business Name Humana
Industry Type Finance and Insurance
Tenant Business Name Health Affiliates Maine
Industry Type Health Care and Social Assistance

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Submarket/Township: Greater Portland
Tax ID/APN: 05220__067*0000*009*
Zoning: CCR
Property Located Between: Foden Road and Maine Mall Road
Property Visibility: Excellent
Highway Access: I-295 & I-95
Airports: PWM
Area Description: Located at the intersection of Foden Road and Darling Avenue, near the Maine Mall, Portland Jetport and immediately accessible to both I-95 and I-295.
Total Number of Buildings: 3
Number of Stories: 1
Year Built: 1979
Roof Type: Flat
Construction/Siding: Steel Frame
Parking Type: Surface
Parking Description: 364 spaces including 13 handicap 5 spaces/1,000 SF
Total Parking Spaces: 364
Heat Type: Natural Gas
Lot Frontage: 1052
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,882 49,806 120,504
Median Age: 32.76 37.78 39.01
Households: 1,594 22,080 53,585

Contact

Photograph of Listing Agent

Drew Sigfridson, SIOR

The Boulos Company NECPE Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.