Downtown Lewiston building changes hands between nonprofits with similar aims
Photo / Courtesy, The Dunham Group
In downtown Lewiston, 430 Lisbon St., a one-story commercial building of 5,500 square feet, sold for $440,000.
A downtown Lewiston building has traded hands, moving between two nonprofits with aligned missions of working with kids.
The building, at 430 Lisbon St., was sold to Riverside Academy, a day care owned by Raphael Kabata and his wife Octavie Nkama, who are originally from the Congo. The day care will be operated by directors with more than 15 years of experience in childhood education.
The seller was Matt Hickey, CEO of Creative Works, a nonprofit that works with children who have intellectual disabilities.
The building, which is 5,500 square feet and dates to 1978, is laid out over a single story and is on about a third of an acre. It includes 15 on-site parking spaces. The building is considered move-in ready.
"We have been looking for a place for two years, and the price for rent is so very high. A child care [center] couldn’t afford" many locations, one of the co-buyers, Kabata, told Mainebiz.
"The other challenge we faced was the child care regulations for buildings, sprinklers, fire alarm systems and many other regulations. It was challenging to find a building that would accommodate all that. The building we have purchased from Creative Works was the perfect match for us."
The selling price was $440,000, Dunham Group said. The deal was financed by Brunswick-based CEI.
Bryan Plourde, a broker for Dunham Group, represented the buyers; Justin Lamontagne, a partner and designated broker at Dunham Group, represented the seller. Dunham broker Sam LeGeyt was also involved in the deal.
"It was a complicated deal but we got it sold and the closing was really cool to see. There was a lot more focus on the respective missions and work to come, than the money trading hands," Lamontagne told Mainebiz.
"We had multiple offers but [Creative Works] really wanted to make it happen for Riverside given the important work they do in the community."
In April, Creative Works purchased a larger space in Lewiston for $1.375 million. The 19,980-square-foot office building, at 10 Falcon Road, allows the nonprofit to consolidate staff and ultimately expand operations.
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