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Updated: October 6, 2023

Former Botto's Bakery building sells for $1M; buyer plans retail suites

former bakery Courtesy / The Boulos Co. At 550 Washington Ave. in Portland, a buyer plans to update the 9,045-square-foot former bakery building and lease out retail suites.
By Peter Van Allen

The former site of Botto’s Bakery, at 550 Washington Ave. in Portland, has sold to 3 Labs LLC for $980,000. 

The buyer plans to update the 9,045-square-foot building and lease out retail suites. The original asking price was $1.2 million.

Craig Young and Sasha Phillips of the Boulos Co. represented Botto’s, Josh Soley of MRA represented the buyer.

This is the second part of a process that Botto's and Boulos started last year. 

Courtesy / Boulos Co.
Steve Mathews, owner of Botto's Bakery, at left, and Craig Young, Boulos partner and broker.

In November 2022, Botto’s leased a facility at 5 Karen Drive in Westbrook, expanding the operation by 5,000 square feet. That deal was also handled by Boulos. 

At the time, Botto's reported that it baked 4,000 loaves of bread a week and an average of 100,000 rolls. 

“The employees are very happy with the expanded space,” said owner Steve Mathews said this week. “The new facility has made us much more efficient in all departments, and the extra space gives me better buy-power on bulk ingredients.

"By the end of October, our production will be up 25% over last year. Shoutout to Craig Young and Sasha Phillips of the Boulos Co. for all their help in making this move possible.”

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