Retail-Commercial for Lease
Lease Pending
Also listed as Office
Catylist Listing ID: 29888511
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Status: Pending
Contiguous Space: 6,100 - 10,000 SF
Building Size (RSF): 130,000 SF
Gross Building Area: See Agent
Lease Rate: $16 PSF (Annual)
Base Monthly Rent: $8,133 - 13,333
Lease Types: Modified Gross
Ceiling: 22 ft.
Last Updated: 6/7/2018

Overview / Comments

We are pleased to offer for lease the signature retail wing of Ocean Gate Plaza located at 511 Congress in Portland, Maine. Previously occupied by Maine International Trade, this 6,100± square foot 1st floor space offers unbeatable exposure on Congress Street with its own exterior entrance and the potential for outdoor seating for restaurants. The premises offers an abundance of natural light, high ceilings (equivalent to two open floors), and a flexible floor plan ideal for all types of retail and office uses looking for mainstream exposure. The adjacent 2,200± square foot unit can be combined with this space to provide over 8,000± square feet of first floor space. Subject to approvals, a mezzanine can be added within the wing to provide various configurations of retail, restaurant, and/or office.

The current layout of the premises provides an executive board room, 4-5 offices, separate reception/lobby, small conference room, kitchenette/break room, large open area for retail or workspace with floor to ceiling glass (22 foot ceiling height), multi-stall men and womens’ bathrooms, copy/mail room, server room, and closets throughout.

Since coming under new ownership in 2013, the Landlord has renovated many portions of the interior and the exterior of the building with additional Class A finishes and features including a complete remodel of the main lobby and entrance, LED exterior and interior lighting, keyless card entry upgrades, and a rebrand of the entire building and the propertys’ Congress Street Courtyard. Other amenities of Ocean Gate Plaza include onsite security (during business hours), onsite trash and recycling, shared rear loading dock with elevator access, dry basement storage, and onsite surface parking. The property is minutes from I-295, the Maine Turnpike, and US Route One and is in walking distance to Portland Harbor and Old Port. Congress Street was named one of the top ten streets in America by the American Planning Association.

Expand All Available Space

Suite: 1 10,000 SF $16 PSF (Annual) Modified Gross
Level/Floor: 1
Status: Pending
Space Available: 10,000 SF
Minimum Divisible: 6,100 SF
Lease Rate: $16 PSF (Annual)
$8,133 - 13,333 (Monthly)
Lease Type: Modified Gross
Space Description: This rare leasing opportunity provides 6,100 - 10,000 +/- square feet of retail, restaurant, and/or high exposure office space located within the most prominent retail wing of Ocean Gate Plaza. Currently occupied by Maine International Trade, this unit offers unbeatable main stream exposure with highly visible band signage along Congress Street and the Ocean Gate Courtyard, a unit specific main entrance with a vestibule (plus one entrance from Lobby and emergency access off side of unit), potential for outdoor seating in Ocean Gate Plaza, 22 +/- foot ceilings in Congress Street portion of unit, and floor to ceiling glass panels around Congress Street and the Courtyard. The premises is located above a highly functional basement that provides a Tenant with an opportunity for some additional storage or mechanicals for a restaurant use as well as easy access to utilities and plumbing throughout the space.
Space Subcategory: Office Showroom, Free-Standing Store
Date Available: 8/1/2018
Space Type: Relet
Conference Rooms: 2
Offices 5
Kitchen Yes
Tax Expenses $1 PSF (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 5526
Retail Clientele: General, Family, Traveler, Tourist, Other
Property Visibility: Excellent
Highway Access: Minutes to I-295, the Maine Turnpike and US Route One
Airports: Less than 15 minutes from the Portland Jetport
Site Description: General amenities of Ocean Gate Plaza include Class A finishes throughout with recent renovations to common areas and exterior, on-site parking, 24 hour access, on-site security during business hours, a vibrant first floor consisting of retail, food service, and high exposure office, shared rear loading dock access leading to elevator, dry basement storage available (separate cost), on-site trash and recycling.
Area Description: 130,000± square foot Office Tower that defines the skyline of Downtown Portland's Peninsula. The property is considered the Gateway to Portland's Financial and Arts Districts and is within walking distance of the Portland Harbor and the Old Port. The Greater Portland area hosted 5.4 million visitors in 2016, who spent $682 million at area businesses, according to the Greater Portland Convention + Visitors Bureau.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Two retail wings abutting Congress Street attached to a Class A Office Tower with oversized glass windows on all nine floors, beautiful outdoor courtyard on Congress Street with renovations completed in Spring of 2015, rare on-site surface parking (subject to availability and at market rates), highly visible signage for first floor tenants & potential for signature signage on rooftop (rooftop signage subject to approvals and for additional cost).
Parking Type: Surface, Other
Parking Description: Parking is available on-site on surface lots that are part of the property and in area garages with block parking secured by Landlord. All parking is leased monthly at market rates and is subject to availability.
Passenger Elevators: 3
Sprinklers: Wet
Heat Type: Electricity, Natural Gas, Other
Heat Source: Central, Wall Units
Air Conditioning: Package Unit, Other
Internet Access: Cable, Other
Interior Description: The main lobby was renovated in 2015 with new tile flooring, lighting, and other Class A finishes throughout. The first floor lobby offers on-site security during business hours, direct interior access to various first floor tenants, and chic directory signage.
Lot Frontage: 9999
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,633 78,550 111,093
Median Age: 34.29 38.07 39.15
Households: 13,945 36,466 50,070


The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.