Courtesy / NAI Dunham Group
The buyer plans to occupy half the vacant space. LAW Calibration is also in the building.
June 25, 2021
NH fire protection company buys first Maine location in Saco
Courtesy / NAI Dunham Group
A 14,160-square-foot industrial building built in 2000 and located on 4.76 acres was seen as the right deal for a New Hampshire company opening its first location in Maine.
Increased business in Maine inspired a New Hampshire company to acquire a new location in Saco.
Hampshire Fire Protection Co. LLC bought 41 Spring Hill Road from Patterson Companies LLC for $1.6 million.
Robert Tragemann of Colliers and Greg Hastings of NAI Dunham Group brokered the transaction.
The property consists of a 14,160-square-foot industrial building, built in 2000, on 4.76 acres.
Established in 1978 and headquartered in Londonderry, N.H., Hampshire Fire is that state’s largest commercial fire protection company, according to its website. services include sprinkler systems, fire extinguisher and restaurant fire suppression systems, and fire alarm systems.
In addition to its headquarters, it has three additional locations across New Hampshire.
The Saco acquisition is the company’s fifth location and first to open in Maine.
Led by Kevin Thibodeau, COO and son of the company’s founder and president, Larry Thibodeau, the business has seen significant growth in opportunities in southern Maine, according to a news release.
Larry Thibodeau is originally from central Maine.
“As a result of our increased business in Maine — notably, our new contract with MaineMed — we needed a location to more efficiently service and supply our job sites in the lower part of the state,” said Larry Thibodeau.
Hampshire Fire plans to occupy half of the vacant space.
LAW Calibration, which specializes in calibrating testing and measuring equipment, currently occupies 8,500 square feet, which leaves opportunity for another tenant in the building, as well as future development opportunities on the vacant land.
“It’s exciting to have good companies move to Maine,” Tragemann, who represented Hampshire Fire, told Mainebiz.
Quality industrial property remains “pretty scarce,” he said.
“The hunt for this one lasted a while,” he continued.
And prices are going up.
“We’re seeing some new prices per square foot being hit that we didn’t see even two or three years ago, because of lack of supply,” he said
Hampshire’s parameters included finding a location south of Portland, he said. The company had the ability o take on a larger square footage than it directly needed, as long as it was in the right area and the building had strong tenancy, he said.
“That’s how they landed on this property,” he said.
The seller, Patterson Cos., is a limited liability company with commercial and residential lease property holdings throughout York County, according to its website.
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