Historic Portland property heads to auction
The front portion of the historic Masonic Temple in Portland will go to auction this fall, with nearly 50,000 square feet of modernized commercial office space available.
Tranzon Auction Properties, a Portland-based real estate auction company, announced on Tuesday that it will auction off the front portion of 415 Congress St. on Sept. 18. The front portion measures at approximately 49,494 net square feet.
The building — which has taxable real estate value of $3.497 million, according to the Portland’s assessor office — was built in 1911 and is listed in the National Register of Historic Places. The original Masonic Temple in the back half of the building is not for sale.
Current property owner Kevin Mattson, president of Dirigo Capital Advisors, said in a prepared statement that he is selling the property as part of his company’s business strategy.
“We’ve been discussing how to handle the sale of this property internally for a few years, because of its unique history and disposition,” he said. “I’m excited to have Tranzon on board — we're ready to hear from the market on this one. I'm looking forward to putting this jewel of a property into new hands."
Tranzon is currently preparing a due diligence package for potential buyers.
“Although Tranzon sells property at auction throughout the United States, we are fortunate to offer such a significant property in our home city,” Tom Saturley, Tranzon’s president said in a prepared statement. “We have had the opportunity to sell some great Portland Landmarks, like Eastland Park. To add 415 Congress is noteworthy.”
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