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November 22, 2016

Condo developers buy 162-year-old Portland lumberyard property

Photo / Peter Van Allen
Photo / Peter Van Allen
Rufus Deering Lumber Co. will be closing on Nov. 30. The property is located in a high-demand location for development as can be seen by JB Brown & Sons' The Apartments at 25 High Street in the background.

One of Portland's oldest businesses, Rufus Deering Lumber Co., will be closing on Nov. 30.

City spokesperson Jessica Grondin told the Portland Press Herald that the buyer of the 2.5-acre property, located at 383 Commercial St., is Reger Dasco Properties, a developer partnership that has built high-end condos in the city and other locations.

The property was assessed at $2.3 million for tax purposes.

Senior Vice President Dan Labrie told the Press Herald that after the company stops operations on Nov. 30, it will begin transferring its staff and assets to Eldredge Lumber & Hardware in Portland and York. Labrie added that Eldredge will hire approximately three-fourths of Rufus Deering's 26 employees.

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