“Wharf Owner Chooses Portland Science Center Over Office Tenant to Fill Last Vacancy,” June 16, 2015
The Portland Science Center will be opening soon at 68-72 Commercial Street on the Maine Wharf. Compass Commercial Brokers managing partner Steve Bauman represented owner Stephen Goodrich as the property’s broker, and praises Goodrich’s vision for Portland’s downtown.
“26 Condo Units Proposed for Group of Buildings in Heart of Old Port,” June 5, 2015
Historic preservation officials respond favorably to an initial look at the plans for the four buildings located at 10 Exchange St.
The apartments on the upper floors of 10 Exchange St. have been empty since the city condemned the building for safety violations in 2009.
But with vacant housing scarce and a new wave of residential construction gaining momentum, a local businessman wants to rehabilitate portions of four buildings at that Old Port address, which were constructed in the immediate aftermath of the Great Fire of 1866, and convert them into new residences. Compass Commercial Brokers exclusively represented this transaction.(read more)
“New York Investor Buys Portland Complex” December 24, 2014
A New York City-based investor has purchased a 71,000-square-feet office campus in Portland for $8.4 million, stating that it plans to eventually expand the complex.
The Roundhouse Complex at 125 Presumpscot St. was sold to Portland Roundhouse Holdings LLC by Presumpscot Street Properties LLC, according to the Mainebiz Real Estate Insider, a weekly newsletter. Compass Commercial Brokers sold and continues to represent this property.
The complex’s tenants include Pediatric Development Center, Maine Bureau of Motor Vehicles, PC Construction Co., Casella Organics, Maine Revenue Services and Administrative Office of the Courts.(read more)
“Portland Landlord with a Past Buys Building with a History,”August 30, 2013
One of downtown Portland’s most prominent and historic buildings has been sold.
Joseph Soley’s 5 Monument Square LLC bought the People’s United Bank Building at 465 Congress St. on Aug. 22 for $5.6 million, said Steve Baumann, the owner of Compass Commercial Brokers, which represented Soley.
The 10-story, 155-foot-tall building was built in 1909. It was the tallest building in Maine at the time and was known then as the city’s first skyscraper. It stands at Congress and Preble streets, overlooking Monument Square just to the east of the Time & Temperature Building.
Soley, an art buff, said Thursday that he fell in love with the building in 1969, when he drove from Baltimore to Portland on his motorcycle. (read more)
“Vacated Medical Buildings Find New Life,” July 6, 2010
The southern Maine commercial real estate market has seen a trend with medical office tenants moving
“Baumann Revamps Plans for Shops at 188 Middle,” March 16, 2010
Steve Baumann has always had a knack for finding new creative uses for pieces of Portland’s commercial property regardless of the economic climate, and the Shops at 188 Middle is no exception.
Baumann, a former Paragon Commercial Real Estate vice president who now works with Compass Commercial Brokers in Portland, says he is getting closer to filling up the former Canal National Bank building on Middle Street with a new upscale restaurant and several retail shops and boutiques that he describes as elegant, but still affordable.
“You can reposition real estate. You just have to be creative,” says Baumann. (PDF)
“Extreme Makeover,” July 28, 2008
New tenants and a hands-on development approach mean big changes for a once-seedy section of Portland’s Old Port
When Steve Baumann’s family bought two blocks of building in the heart of the Old
The seller of the properties, on Fore Street and cobblestone-clad Wharf Street, was Joseph Soley, a notorious landlord who was ultimately called to account by the court system. (PDF)
“Investing in the Future,” December 27, 2005
Family working toward new vision for Old Port. The Baumanns hope to attract diverse tenants to their buildings on Wharf and Fore Streets,” (PDF)
New England Real Estate Journal
“Thinking and planning your way through the three party tax deferred exchange,” September 1, 2000
Those of us who regularly deal with IRC Section 1030 Tax Deferred Exchanges know the general rules… Click to keep reading. (PDF)