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December 21, 2022

Top 10 Mainebiz Real Estate Insiders from 2022

Courtesy / Nova Concepts As shown in a rendering, the proposal for Skowhegan's vacant Spinning Mill calls for a ground-floor Bigelow Brewing production site and up to 50 apartments.
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In many ways, 2022 was a challenging year for businesses, but it was also a very active year for real estate deals.

From the redevelopment of a historic mill in Skowhegan to the impact of the Rock Row development to deals for restaurants and storage units, Maine saw plenty of real estate activity in 2022. 

Here are the Top 10 Real Estate Insiders from 2022, based on pageviews.

1. Skowhegan’s downtown Spinning Mill to have new life (July 27): Plans from Dash Davidson and partner Max Patinkin, who run Bangor-based High Tide Capital, call for 45 apartments, with Bigelow Brewing Co. anchoring the ground floor. A boutique hotel could also be part of the project. 

aerial of shopping center
Courtesy / F.O. Bailey Real Estate
A retail center at 100 Larrabee Road in Westbrook sold off-market for $14.9 million.

2. Rock Row development helps drive $14.9M retail center investment (Aug. 29): Rock Row, the 110-acre mixed-use development in Westbrook, has been a significant investment on its own. But a broker involved in the sale of a nearby strip center said surrounding real estate is also benefiting from the presence of Rock Row. 

3. Residential construction permits in Portland down 82% since Green New Deal (Jan. 25): The Green New Deal, passed by Portland voters in November 2020, mandates that certain new residential construction meet affordability requirements. But a study showed that the inclusionary zoning provision had the unintended effect of slowing development of much-needed housing.  

Courtesy / L.L.Bean
L.L.Bean's $110 million headquarters campus, shown here in a rendering, consolidates several offices and add new amenities for employees.

4. Progress on L.L.Bean headquarters redevelopment is ahead of schedule (June 30): The work-from-home aspect of the pandemic helped speed the pace of construction on L.L.Bean’s $110 million headquarters redevelopment. The 400,000-square-foot office complex, which is being built in three phases, is now expected to be completed by spring of 2023.

fobes hall
Chris Marshall, left, and Nate Green, who plan to redevelop three dorms on the former Nasson College campus.

5. Last vacancies on former Nasson College campus to become market-rate apartments (Nov. 30): Nasson College in Springvale closed in 1983. Now, a development team is taking on three neglected former dorms, with plans to convert them to 83 market-rate apartments. 

6. After makeover, Brunswick lodging property is revived as a boutique hotel (March 22): The former Capt. Daniel Stone Inn had a $3.5 million overhaul and was recast as a boutique hotel with a high-end restaurant. 

rendering brick building
Courtesy / The Friendly Toast
The playful font used in the Friendly Toast’s signage, seen here in a rendering of the Portland location, signals the group’s “kitschy” vibe.

7. NH restaurant group brings its taste for all-day brunch to Maine (April 25): The Friendly Toast was already an institution elsewhere in New England, but the Portland location became the chain's ninth location. 

8. NH group scoops up five self-storage facilities in off-market deals (Nov. 7): Five self-storage facilities totaling 78,000 square feet were acquired for a total of $6.3 million, all in deals that were not officially posted.

9. Proximity to Maine Med helps seal expansion of a private health care practice (July 25): The owner of a chiropractic neurology practice in Portland established a separate location for a segment of the business to accommodate his growing patient base. The building, at 1020 Congress St. in Portland, sold for $700,000.

big brick building with lots of windows
Courtesy / Malone Commercial Brokers
The owner of a dental practice bought two units at Hobson’s Landing, at 383 Commercial St. in Portland.

10. Growing dental practice picks up two retail units at Hobson’s Landing (July 30): The redevelopment of the former Rufus Deering Lumber site on Commercial Street in Portland has spawned housing units, retail, restaurants, a hotel and now a dental practice. 

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