Former Harbor Technologies facility on the market
Photo / NAI Dunham Group
This 28,000-square-foot industrial facility, the former site of Harbor Technologies at 68 Business Parkway in the Brunswick Industrial Park, has been put on the market for $2.5 million.
Two months after its assets were acquired, the former site of Harbor Technologies has been put on the market for $2.5 million.
The 28,000-square-foot industrial facility is at 68 Business Parkway in the Brunswick Industrial Park. The price includes five acres.
Harbor Technologies’ assets were sold to Kenway Corp. in Augusta, following the dissolution of the company by its investors in October. While the Brunswick site is for sale, the property’s owner, Allied Composite Center, will also consider leasing the property, said the owner’s broker, Justin Lamontagne of NAI Dunham Group.
Allied Composite Center is the limited liability company for the Priority Real Estate Group, a commercial real estate investment and development company in Topsham founded and led by James Howard.
“The preference, probably, is to lease the building,” said Lamontagne. “He’s in the business of rental cash flow. But we put it out to purchase as well because there are few buildings of this size and quality for sale, so we thought we’d test the waters.”
The facility was custom built for Harbor Technologies in 2005 and then expanded in 2009. The steel-
sided facility is insulated and has a poured concrete floor with radiant heat. Warehouse space makes up 25,200 square feet and is divided into three units, with 1,000amp electrical service.
The facility is serviced by municipal utilities, including natural gas. There’s also 2,800 square feet of office space and a 6,400squarefoot mezzanine.
“They were working with a lot of large products, so there are high ceilings and oversized doors,” said Lamontagne. “That’s rare in that park.”
In addition, he said, the facility is well positioned for helping to meet an industrial real estate crunch seen throughout Greater Portland. In 2010, the industrial vacancy rate in southern Maine was between 8% and 9%. Today, the rate is about 4% — historically low for this market, Lamontange said.
“The industrial market in Greater Portland is so tight, it stands to reason that businesses will have to expand their geographic search,” he said. “So we’ll be pushing this not only in the Midcoast region, but heavily in Greater Portland. Demand now is extremely high and inventory is low.”
Harbor Technologies was founded in 2003, and went on to develop numerous innovative manufacturing techniques to build corrosionresistant composite products, with product lines such as composite pilings and fenders for marine applications.
It is now a division of Kenway Corp., a composite manufacturer that specializes in products for the heavy industry, infrastructure, government and military markets. Kenway President Ian Kopp has described the purchase as "a strategic acquisition" that expands the company's product offerings in the waterfront infrastructure market.
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