Hotels & hospitality

Time & Temperature Building

477 Congress St Portland, ME United States 04101
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
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NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1924
Occupancy 75.0 %

Property Description

Built in 1924, the Time and Temperature Building was the 1st shopping mall in the state of Maine – as such, the building has tremendous historic character. The Site is comprised of 3 adjacent parcels and the development program contemplates a 165-room upscale boutique hotel with a large historic mezzanine, amenity space, food and beverage offering and retail shops. The Hotel Site is part of a larger mixed-use development that will also include a luxury residential tower with condos and apartments, and a parking garage. The building is located in an Opportunity Zone and a Historic Preservation District and as a contributing building to the district, qualifies for historic tax credits (estimated to be $13.2 million based on preliminary cost estimates and development budgets).

Investment Highlights

Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to offer, on an exclusive basis, the opportunity to acquire or joint venture the redevelopment of the Time and Temperature Building (the “Hotel Site” or “Property”) – a 14-story historic tower located in the heart of Downtown Portland, Maine.
Denny Meikleham
Denny Meikleham
Managing Director, Capital Markets
License details
RI-REB.0017202 MA-9519748
Alan Suzuki
Alan Suzuki
Senior Director, Capital Markets

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