FOR SALE CONTINENTAL MILL REDEVELOPMENT 2 CEDAR STREET - LEWISTON, MAINE CONTINENTIAL MILL HISTORIC MILL IN DOWNTOWN LEWISTON 560,000± SF REDEVELOPMENT OPPORTUNITY Picturesque Views of Androscoggin River Currently vacant Part of the Lewiston Riverfront Plan Ready for redevelopment for office, retail and residential apartments SALE PRICE: $1,999,950 KAREN RICH, BROKER 207.210.6637 direct 207.671.8808 cell Krich@malonecb.com CHERI BONAWITZ, BROKER 207.210.6638 direct 207.240.6844 cell Cheri@malonecb.com MALONE COMMERCIAL BROKERS 5 Moulton Street Suite 3 Portland, ME 04101 207.772.2422 main www.malonecb.com
INTRODUCTION CONTINENTAL MILL - 2 CEDAR ST, LEWISTON ME OVERVIEW Malone Commercial Brokers is pleased to offer for sale the Continental Mill located at 2 Cedar Street in Lewiston, Maine. This landmark property is ready for redevelopment for office, retail, and residential apartments. The Continental Mill was an integral part of Lewiston s industrial revolution which began shortly after the expansion of the first railroad into the city in 1849. Soon developers from the Greater Boston area, including the notable Benjamin Bates (namesake for Bates College) and Thomas J. Hill, came to Lewiston to acquire legal control of the Androscoggin River and developmental rights along the eastern shores. LOCATION The Continental Mill is located in Lewiston adjacent to the Androscoggin River, walking trails, & the riverfront parks. Lewiston is centrally located between Augusta and Portland. As a result, over the past decade Lewiston has been capturing new markets for technology, medical, research & development, retail, entertainment and hosting conferences. Many new hotels, restaurants and expansions with hospitals. HISTORY Designed by A.D. Lockwood, David Whitman and C.F. Douglas, the Continental Mill was constructed between 1855 and 1858 in the French Second Empire style. Hydroelectric power was provided by harnessing water flow from the Lower Canal which paralleled the mill to the east. Just after the Civil War a row of four-story brick structures was constructed east of the mill to house the growing number of mill employees and families. Only two of the transitional Greek Revival - Italianate style structures, known as the Continental Mill Blocks remain. The mill and surrounding buildings were built at the high point of the Victorian industrial architecture. At its prominence the mill employed more than 1,200 workers, 900 of them female, who operated more than 70,000 cotton spindles on more than 7 acres of floor space. In 1960 the owners of the mill shuttered the cotton manufacturing facility. RIVER WALK PLANS: The industries of Riverfront Island, a 70-acre district delineated as the area between upper canal and the Androscoggin River, once drove the economies of Lewiston and Auburn. Today, following the decline of the industries, the twin cities are reinventing their waterfront an anchor for their region. Goody Clancy led a planning process that engaged citizens from both communities in an exploration of possible features that would infuse the downtown with new life and energy. Developed through a series of public workshops and meetings, the plan embraces community aspirations, but is firmly anchored in market and economic realities. LEASE PAD SITES For more information Riverfront Island Plans see http://www.lewistonmaine.gov/413/riverfront-master-plan This document has been prepared by Malone Commercial Brokers for advertising and general information only. Malone Commercial Brokers makes no guarantees, representations or warranties of any kind, expressed or implied, regarding, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Malone Commercial Brokers excludes unequivocally all informed or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages there from. All data is subject to change of price, error, omissions, other conditions or withdrawal without notice. Malone Commercial Brokers is acting as the Seller s/lessor s agent in the marketing of this property. 3-22- 2018
PROPERTY INFORMATION CONTINENTAL MILL - 2 CEDAR ST, LEWISTON ME PROPERTY SUMMARY OWNER: Roy Continental Mill, LLC Brick and Granite BUILDING SIZE: 560,000+/- Square Feet. BUILT: 1860 CONSTRUCTION: Brick and Granite LOCATION: 2 Cedar Street, Lewiston, Maine (cross streets: Cedar Street & Oxford Street) Located along the Androscoggin River with sweeping picturesque views. Close proximity to Downtown Lewiston, with many shops, offices, local businesses and restaurants. LAND SIZE: 7.07 ± Acres with River Frontage ZONE: Mill PARKING: 40,000+/- Square Feet DEED REFERENCE: Book 4432 Page 265 Androscoggin County Registry of Deeds ASSESSOR ID: Map 208, Lot 4 ASSESSED VALUE: Land: $300,500; Building: $1,069,390; Total Assessed Value: $1,369,890 HVAC: Natural Gas UTILITIES: Municipal Water and Sewer ELEVATORS: Four (4) Freight Elevators 4432/265 SSI: Yes, Sprinkler System SALE PRICE: $1,999,950 MALONE COMMERCIAL BROKERS 5 MOULTON STREET, PORTLAND ME 04101 207.772.2422 MALONECB.COM
PHOTOS CONTINENTAL MILL - 2 CEDAR ST, LEWISTON ME MALONE COMMERCIAL BROKERS 5 MOULTON STREET, PORTLAND ME 04101 207.772.2422 MALONECB.COM
RIVERFRONT ISLAND OVERVIEW CONTINENTAL MILL 2 CEDAR STREET, LEWISTON, ME Continental Mill LEASE PAD SITES Continental Mill The above information is from the document Riverfront Island Master Plan City of Lewiston, ME, Riverfront Master Plan Committee, Goody Clancy May 2012. The full plan is available at: Continental Mill This five-story 560,000-square-foot mill building is particularly well suited to a residential reuse. Its mix of high ceilings, large windows and wood floors are ideal for loft housing. With its waterfront setting and river views, reuse of the building could anchor the waterfront, bringing life and activity year-round. 250 500 residential units could be accommodated, depending on unit size and other variables. Like the Bates Mill Complex, this large building has the potential to be developed in a number of phases in response to market demand. Portions of the building could also be devoted to complementary uses, including office space. Most if not all necessary parking could be accommodated on site, with the possibility of accommodating some indoor parking on the ground level of the building. Overflow parking to the extent required could be provided at the Chestnut Street garage or within a future garage addition. At a minimum, all parking needed to cover several initial phases of development can be provided on site. Through cooperative agreements with the mill s owners, a public riverwalk could be constructed along the property edge in advance of development. Development of this segment of Riverwalk as a public amenity could enhance the attractiveness of the property and serve as a development catalyst. Use of federal and state historic tax credits could substantially enhance the feasibility of development of this property. Continental Mill is an important and very attractive landmark on the River. MALONE COMMERCIAL BROKERS 5 MOULTON STREET, PORTLAND ME 04101 207.772.2422 MALONECB.COM
FOR SALE CONTINENTAL MILL REDEVELOPMENT 2 CEDAR STREET - LEWISTON, MAINE Continental Mill, 2 Cedar St. Continental Mill is located in Lewiston adjacent to the Androscoggin River, canals, walking trails, & the riverfront park. Lewiston is centrally located between Augusta and Portland. As a result, over the past decade Lewiston has been capturing new markets for technology, medical, research & development, retail, entertainment and hosting conferences. Many new hotels, restaurants and expansions with the two major hospitals in Lewiston-Auburn, Central Maine Medical Center and St. Mary s Regional Medical Center. KAREN KAREN RICH, RICH, BROKER BROKER 207.210.6637 direct direct 207.671.8808 cell Krich@malonecb.com CHERI BONAWITZ, BROKER 207.210.6638 direct 207.240.6844 cell Cheri@malonecb.com MALONE COMMERCIAL BROKERS 5 Moulton Street Suite 3 Portland, ME 04101 207.772.2422 main www.malonecb.com