RAM Acquires Fully Leased South Portland Office Complex for $12M
Scarborough, ME-based The RAM Companies, an acquisition, development, and management firm, has purchased the fully leased Atlantic Place office complex from 341 Park, LLC for $11.9 million. The building in South Portland, ME consists of three, one-story buildings on 8.58 acres.
The transaction was arranged by Jessica Estes and Drew Sigfridson of The Boulos Company.
According to The Boulos Company, Howard Goldenfarb, developer and founder of The RAM Companies, has been acquiring historic yet underutilized properties in the Old Port Exchange district for over four decades. RAM plans to invest in the building by renovating the building exteriors and common areas, installing electric car charging stations, upgrading lighting, parking lots, heating and air systems and landscaping to reposition this complex to be considered Class A office space.
RAM is retaining The Boulos Company as its agent for future leasing activity at the property.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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