The local investment group performed a substantial build-out to attract Brock Corp., with with 15,000 employees worldwide, to Maine and specifically to the property.
Get Instant Access to This Article
Subscribe to Mainebiz and get immediate access to all of our subscriber-only content and much more.
- Critical Maine business news updated daily.
- Immediate access to all subscriber-only content on our website.
- Bi-weekly print or digital editions of our award-winning publication.
- Special bonus issues like the Mainebiz Book of Lists.
- Exclusive ticket prize draws for our in-person events.
Click here to purchase a paywall bypass link for this article.
The acquisition of a 14,000-square-foot industrial building at 11 Fireslate Place in Lewiston was completed in tandem with a long-term lease to Houston-based industrial services company Brock Corp.
Lumon Industries LLC bought the property from RSP Lewiston LLC for $775,000.
The sale price was a steep discount from the list price of $1.25 million.
Charlie Hippler and Josh Soley of CORE, Karen Rich of Malone Commercial Brokers and Bryant Loch of JLL brokered the sale and lease transactions.
Flex space
The building has flexible, high-quality warehouse space in a well-maintained setting. There’s 1,000 square feet of office space and 13,000 square feet of open warehouse space, two dock-height power overhead doors and a grade-level power overhead. It’s about a mile from Route 202, which leads to I-95.
Tenant attraction
Lumon, a group of local investors, performed a substantial build-out to attract Brock Corp. to Maine and specifically to the property, Soley told Mainebiz.
Brock, with more than 15,000 employees worldwide, will use the property to support its regional operations, including warehousing, equipment storage and logistics coordination across Maine and northern New England, according to a news release.
The building was constructed in 2010 for Huhtamaki Inc., a Finland-based food packaging specialist, but had been vacant for 18 months, Soley said.
CORE will provide property management services.
“This was a great example of aligning the right tenant with the right ownership group,” said Soley. “Securing a growing operator like Brock Corp. provides immediate stability for Lumon Industries while also supporting Brock’s continued expansion in the region.”
The investment focus was to create a deal that worked operationally for the tenant and delivered long-term value for the ownership, he added.
