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March 16, 2017

Some well-known inns put up 'for sale' sign

With the tourism season around the corner, a few prominent Maine inns are on the market.

In keeping with the past year's record of significant lodging transactions, Daigle Commercial Group's newsletter this week listed four offerings, ranging from an upscale island resort to a city hotel.

The firm's latest offerings also include:

  • The Trade Winds in Rockland, which opened in 1965, is listed at $3.495 million.
  • The Ocean Gate Resort on Southport Island, listed at $5.89 million. The current owners, who bought the property in 2006.
  • The Augusta Inn is on the market for $1.675 million.
  • The Cedar Crest Inn, on Route 1 in Camden, is listed at $2.35 million. This property has a long history, dating to 1918, when it was Cedar Crest Camp, then Cedar Crest Overnight Cabins in the 1920s and 1930s, according to the inn's website.

In a recent conversation with Mainebiz, Mitchell Muroff, a broker with Daigle Commercial Group, said the past year has been the busiest his firm has ever seen. The firm's completed transactions have included old chestnuts like the century-old Linekin Bay Resort in Boothbay Harbor.

The offerings come at a time when Maine lodging occupancy continues to increase, which is stimulating purchaser interest in independent lodging facilities as well as franchise facilities throughout the state of Maine, Muroff told Mainebiz.

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