National clothing retailer lands in Old Port
Courtesy / Malone Commercial Brokers
With high levels of foot traffic, the 19th-century building at 75 Market St. in Portland was viewed as an ideal location by Madewell.
A national clothes retailer headquartered in New York City will open its first Maine store at 75 Market St. in Portland’s Old Port this fall.
Madewell signed a five-year lease for a 5,532-square-foot space at the corner of Market and Middle streets. The lease was brokered by Pete Harrington of Malone Commercial Brokers for East Brown Cow and Randy Baker of Open Realty Advisors for Madewell.
Madewell, best known for its signature denim, is scheduled to open ahead of the holiday shopping season in one of two ground-floor retail suites. Store hours and information will be made available in the coming weeks.
Madewell is a sister company of J.Crew and is owned by private equity concerns TPG and Leonard Green. It has 153 stores in 37 states and the District of Columbia.
Its Portland store will be in a building owned by East Brown Cow, a Portland real estate management, investment, and development firm, which has owned and managed 75 Market St. since 2006.
The space was formerly occupied by Ramblers Way, a Kennebunk clothes maker and retailer started by Tom’s of Maine founder Tom Chappell.
“We’ve been working diligently for years towards our goal of activating the urban fabric of Portland’s unique downtown,” said Tim Soley, president and CEO of East Brown Cow. “Among other efforts, we have focused on carefully curating our storefronts with the thoughtful selection of both national and local retail tenants.”
The 19th-century five-story brick building features decorative exterior granite corners, lintels and sills. It was built apart but adjacent to 157 Middle St. in 1868. The two buildings were integrated during a period of extensive renovation in 1984, and they are now managed together by East Brown Cow.
Other national brands in the Old Port include Anthropologie, Athleta, Urban Outfitters, and West Elm. The location has high levels of foot traffic.
Madewell’s head of stores, Garrett Putney, cited “tons of exciting growth” as an attractive reason for opening in the Old Port location.
Since it was established over 30 years ago, East Brown Cow’s portfolio has grown to more than 20 assets in Greater Portland, including over 1 million square feet of mixed-use office, retail, garage and hospitality assets.
Malone Commercial Brokers was established in 1983.
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