Time & Temperature Building

Historic Time and Temperature Building located in the Heart of Monument Square in Portland, Maine

PRIME CONVERSION OPPORTUNITY

• Multifamily, office, and hotel are allowed under current zoning
• Unprecedented surge in demand for housing, both rental and for sale product
• An excellent opportunity for office headquarters in the heart of downtown Portland

UNPARALLELED LOCATION

• Prominent site at the intersection of Congress and Preble Streets, on Monument Square
• Within walking distance to Old Port, Casco Bay Ferry Terminal, Portland Art Museum, and all of the restaurants that have made Portland the nation’s best restaurant scene.

BRICKS & MORTAR

• Over 160,000 gross square feet on 1.86 acres
• Fourteen Story Office Tower with panoramic views of Casco Bay and the city skyline
• Attractive retail opportunities in existing retail space
• Built in 1920s
• 340 Space Parking Garage with significant upside
• Significant capacity for additional floors by zoning code

In conjunction with RealINSIGHT Marketplace, Colliers International is pleased to offer the opportunity to purchase the fee simple interest in the Time and Temperature Building and Monument Square Parking Garage (the “Property”) located at 477-481 Congress Street; 22 Preble Street and 45 Brown Street in Portland, Maine.  The Property’s unparalleled location in the heart of Monument Square, steps away from the vibrant Old Port, coupled with a surge in Portland commercial real estate and favorable in place zoning, creates an exceptional opportunity.  The Time and Temperature Building is just a few blocks from many of Portland’s top amenities, including the Old Port, the Cross Insurance Arena and hundreds of restaurants.  Further value can be unlocked by expanding the building given existing structural capacity and zoning allowance. Significant value can be attained through the upgrade and management of the Property’s 340 space parking garage.   The Time and Temperature Building is ideal for developers in search of the location, visibility and physical specifications needed to create a first-class development in the best location in the city.