BAYSIDE UPDATE: Century Plaza welcomes local tenant

Screen Shot 2018-03-08 at 2.20.04 PM(Portland, Maine) Earlier this year Northland Enterprises, LLC, a commercial real estate development company based in Portland, helped Coastal Pharmacy & Wellness complete its move to Century Plaza at 29 Marginal Way, at the opposite end of a building that also hosts a Chipotle restaurant.

The pharmacy has detailed its reason for the move, which was also an expansion, on its web site.

“We are very happy to have a locally-owned business in that space, and the three partners were great to collaborate with,” said Josh Benthien, a partner at Northland Enterprises. “This is more local flavor added to this revitalized neighborhood, which is what the neighbors have been telling us they want.”

Coastal Pharmacy and Wellness is joined at Century Plaza by Chipotle, Orange Theory Fitness and a T-Mobile retail store. Northland has been redeveloping the former Century Tire property for several years, after the local landmark closed in February 2014 after almost 90 years in business on Marginal Way.

Benthien said two more spaces are available for lease at Century Plaza.

Northland Enterprises has been managing and re-developing commercial real estate since 2001, in Maine communities and several others in the northeast Unites States. It is based in Portland, Maine.

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Commercial real estate pushing Portland’s West Bayside forward

Mainebiz magazine reporter Laurie Schreiber recently wrote a very thorough article about commercial real estate development that is helping to transorm Portland’s West Bayside neighborhood. “A growing number of retail and residential offerings are attracting visitors and prospective residents to the area between Congress Street and Marginal Way,” according to Schreiber.

The article reviews some of many new economic development projects that have been transforming that part of town, including Century Plaza, which Northland has been developing for several years now.

The solid forward momentum is likely continue, as the City of Portland moves forward with its plans to sell seven public works parcel. This property includes land and buildings and totals four acres. The city is in the process of putting these assets on the market, which could lead to further revitalization in the next several years, between Portland, Parris, Alder and Kennebec streets. The city says its goal is to stimulate private sector investment for 24/7 mixed-use development such as small retail or residential.

For the full Mainebiz article, CLICK HERE.

More commercial real estate development has also led to more residential units, like these 55 new apartments on Treble Street. The City has experienced a housing crunch for many years.

More commercial real estate development has also led to more residential units, like these 55 new apartments on Treble Street. The City has experienced a housing crunch for many years.