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December 24, 2014

New York investor buys Portland complex

A New York City-based investor has purchased a 71,000-square-feet office campus in Portland for $8.4 million, stating that it plans to eventually expand the complex.

The Roundhouse Complex at 125 Presumpscot St. was sold to Portland Roundhouse Holdings LLC by Presumpscot Street Properties LLC, according to the Mainebiz Real Estate Insider, a weekly newsletter. CBRE|The Boulos Co. brokered the deal, which closed Dec. 11.

The complex's tenants include Pediatric Development Center, Maine Bureau of Motor Vehicles, PC Construction Co., Casella Organics, Maine Revenue Services and Administrative Office of the Courts.

There are no immediate plans for additional development, according to CBRE|The Boulos Co., but the developer said it would consider building an additional building if demand warrants one.

Read more

Real Estate Sales, December

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