Courtesy / Maine Realty Advisors
15 Monument Square, a mixed-use office and retail property sold earlier this week for $2.2 million.
October 10, 2019
In Portland, another Monument Square building changes hands
The handsome old buildings surrounding Monument Square in downtown Portland continue to attract interest on the real estate market.
In a deal that closed Oct. 7, 15 Monument Square LLC bought 15 Monument Square, a mixed-use office and retail property, from Bradley McCurtain for $2.2 million. Josh Soley of Maine Realty Advisors represented the buyer in the deal.
McCurtain was an owner-occupier of the building who has been operating a coffee shop called Others! on the ground level, said Soley.
“It was a straightforward, private transaction,” he said. “It wasn’t on the market.”
The building has two retail and six office units; about half of the spaces are vacant.
“I’ll be listing the retail spaces as available beginning next week,” Soley said. Some renovations will be performed in the vacant offices spaces, and then those will be listed as well, he added.
Soley is responsible for brokering the lease of one retail space in the building to Sisters Gourmet Deli several years ago. Others! will close, he added.
According to the city of Portland’s historic resources inventory, 15 Monument Square was built in 1891 to the design of architects Francis H. Fassett and Frederick Tompson. The property has been known as both the Choate Block and Columbia Hall. The four-story brick and stone building is a example of the late-19th century commercial Classic style.
Other recent deals nearby include the sale of 18 Monument Square, a four-story brick building dating from 1913 and was designed by John Calvin Stevens and John Howard Stevens. Soley brokered that sale as well.
22 Monument Square, another 1913 building designed by Stevens, sold in January 2018 for $2.1 million.
That was followed in April by the $4.25 million sale of 50 Monument Square. Called the Lancaster Block, it was built in 1881 from the designs of Fassett and Stevens.
The nearby 14-story Time & Temperature Building, at 477 Congress St. on Monument Square, sold in October 2018 in an auction, with a winning bid of $9.3 million. Built in 1924, it’s distinguished by a large display screen on the roof that flashes the time and local temperature.
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