511 Congress Street Sells to Portland, Maine Investor

510 Congress Street, Portland, Maine

Jensen Baird Gardner & Henry congratulates Edmund S. Gardner III of Ocean Gate, LLC, on his acquisition of 511 Congress Street, Portland, Maine for $12,450,000.  Originally constructed in 1973, the nine-story former Maine Savings Bank building features approximately 130,000 in Class-A office and retail space, and 154 onsite surface parking spaces.  The property will be rebranded “Ocean Gate Plaza” and undergo interior and exterior renovations, which are intended to breathe new life into a pinnacle of the Portland Peninsula skyline.  Nicholas J. Morrill of the firm’s Real Estate and Business Services practice groups served as counsel throughout the acquisition and financing transaction, advising Mr. Gardner on various real estate and business matters, and continues to provide advice on leasing currently unoccupied space in the building.