Portland, ME Hearts of Pine LLC, a local professional soccer team, leased 2,300 s/f of office space at One Union Wharf. Hearts of Pine will train and play at Fitzpatrick Stadium, a 6,000-seat venue off I-295. The team’s first game is slated for spring 2025, and the business staff needed space to prepare for the inaugural season.
“We needed affordable, built-out office space that could enable us to get up and running quickly, while also having room to grow into,” said the organization’s president, Kevin Schohl. “One Union Wharf fit the bill, as it came with parking, sits in the heart of the city, and is an area that’s frequented by both tourists and locals.”
The Boulos Company’s Cameron Foster represented Hearts of Pine. Jack Baumann of Compass Commercial Brokers represented the landlord, Johnathan Cohen.
The Commercial St. building was a recent investment for Cohen’s group, 5 Widgery Wharf, LLC. “We love the idea of professional soccer in Maine and want to support it as much as possible.”
The soccer team is the city’s first professional soccer team and will feature in League One of the United Soccer League.
Anyone who would like to place a $25 deposit toward 2025 season tickets is invited to visit Hearts of Pine.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.