Local Investor Group Purchases 1-3 Canal Plaza
One of Portland's best known addresses for business, Canal Plaza, has been acquired by affiliates of local investor group East Brown Cow Holdings. Joe Malone represented the group in its purchase of One Canal (10-story office building), Two Canal (4-story office building) and Three Canal (6-story office building) with associated surface parking lots. The acquisition also included the adjacent Fore Street Garage, a 492-car garage with retail space on its ground level. Total square footage is 384,000± on approximatley 3.5 acres.
"We are very excited about the potential to do more here and believe the return to local ownership is a big plus for Canal Plaza. It will allow us to be more responsive to tenants' needs and to quickly react to market conditions." Joe Malone, Designated Broker of Malone Commercial Brokers
Canal Plaza's campus is widely regarded as the City's most attractive in-town setting.
Some of the area's most prestigious firms located there include:
•Key Bank • Perkins-Thompson • Curtis-Thaxter • Tompkins, Clough, Hirschon & Langer • Marcus Clegg & Mistretta • LeBlanc & Young • the Wishcamper Companies • Atlantic Fund Administration and many others•
The property's central location between the Old Port and Monument Square areas, make its buildings a prominent part of the City's skyline.
Canal Plaza's campus is widely regarded as the City's most attractive in-town setting. Some of the area's most prestigious firms located there include:
•Key Bank • Perkins-Thompson • Curtis-Thaxter • Tompkins, Clough, Hirschon & Langer • Marcus Clegg & Mistretta • LeBlanc & Young • the Wishcamper Companies • Atlantic Fund Administration and many others•
The property's central location between the Old Port and Monument Square areas, make its buildings a prominent part of the City's skyline.
Tim Soley, president of East Brown Cow, indicated that this acquisition marks the company's largest single purchase. East Brown Cow Holdings and its affiliates own more than 900,000 square feet of commercial buildings in Greater Portland.
"East Brown Cow's vision is to energize this city block through the addition of architecturally distinct, pedestrian friendly structures while making significant capital investments into the existing structures in order to achieve an energy-efficient, vibrant, urban core focused on the future of our city." Tim Soley, President of EBC
Posted by MCB Admin at 2/27/2010 2:47 PM 
Categories: Featured Transaction
Tags: Portland Office Joseph Malone- Broker
Categories: Featured Transaction
Tags: Portland Office Joseph Malone- Broker
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