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Sun, Nov 27
A Compendium of Property & Capital News
Nov 27

Shaw’s Anchored Harbor Plaza in Rockland Maine Trades for $13.5M

October 26, 2022
Harbor Plaza - 235 Camden St.; Rockland ME

ROCKLAND, ME — A Shaw’s anchored 169,070 SF retail plaza has been swapped. Harbor Plaza, located in picturesque Rockland Maine recently reaped $13,500.000 from the arrangement of Bob Horvath and Todd Tremblay of Horvath & Tremblay. The seasoned triple net investment duo received the exclusive assignment and procured the buyer to complete the transaction at 235 Camden Street.

Anchored by the supermarket, Harbor Plaza is also home to TJ Maxx, HomeGoods and Staples - with prominent junior anchor and in-line tenants including Olympia Sports, Rent-A-Center, H&R Block, Label Shopper, and The UPS Store.

The Property is currently 92.77% leased with an impressive average length of tenancy of over 19 years. The majority of the leases include rent increases in the primary term or renewal options, which provide an attractive increase in income and hedge against inflation.

Harbor Plaza is strategically located on Camden Street (US Route 1) and offers excellent pylon signage at the entrance to the shopping center from Route 1. The Property is conveniently accessed via the Harbor Plaza access road with its own signalized intersection on Route 1, the primary commercial corridor serving residents of Mid-Coast Maine and the tens of thousands of visitors and summer residents to the coastal towns around Penobscot Bay and Acadia National Park. The population of Rockland and the surrounding communities more than triples during the summer months with the arrival of tourists and summer residents.

Robert Horvath Todd Tremblay