66,000-square-foot warehouse/manufacturing building is located in the Scarborough Industrial Park
Howard A. Goldenfarb, founder of The RAM Companies, announced that the firm has acquired 16 Washington Ave. in Scarborough. The 16 Washington Ave. property totals 66,000 square feet and sits on nearly 15 acres in the well-established Scarborough Industrial Park. The property was formerly owned and occupied by Sonoco Corporation (NYSE: SON). It is currently unoccupied.
RAM will rebrand the property as the Washington Avenue Commerce Center and make several interior and exterior upgrades. With interior clear heights up to 23.5 feet, more than 100 parking spaces and heavy power, the property is suitable for a variety of uses.
“It is not every day that we can purchase such a well-functioning, centrally located asset with so much potential, only a few minutes from our headquarters,” Howard Goldenfarb explained. “Scarborough is a very desirable community in which to do business in, and this location in the Scarborough Industrial Park complements our portfolio well. We have a long history of taking underutilized assets to their full potential and look forward to doing the same at 16 Washington.”
Claire Richardson of the Boulos Company will handle leasing of the property.
The RAM Companies is a Maine-based firm with a strong focus on the acquisition & redevelopment of industrial/flex income-producing properties. RAM has pioneered office, retail, and residential property development for nearly 50 years on three continents. The firm’s mission is to increase the prosperity of its associates and partners by strategically acquiring, developing, and managing real estate that adds value to our company’s portfolio and to the communities in which we work and live. The RAM Companies is headquartered at Centervale Farm in Scarborough, Maine. For more information, visit www.ramcompaniesusa.com.