RAM Companies Picks up Former Sonoco Corp. Industrial Warehouse in Scarborough

PORTLAND ME — Howard A. Goldenfarb, founder of The RAM Companies (RAM) has acquired 16 Washington Avenue in Scarborough, Maine. The industrial warehouse 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) and 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.

Howard A. Goldenfarb