Prime Real Estate: Retail Center Freeport, ME

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1 Freeport Village Station
Freeport, ME 04032

Property #: AP24025

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Interested parties will be notified when scheduled.

Contact Agent

Mike Carey CAI
Tranzon Auction Properties

207-776-1936 mcarey@tranzon.com
Freeport Village Station, an award-winning shopping center with a prime location and strong tenant mix, presents an attractive investment opportunity. The combination of existing cash flow, immediate leasing upside, and the continued commitment of anchor tenant make it a compelling prospect in the vibrant retail landscape of Freeport, Maine.
 
Investment Highlights:
  • Freeport Village Station is an institutional-quality outlet shopping center developed in 2009, showcasing high-quality architecture, prominent signage, and scenic landscaping.
  • The property, a leasehold interest set on 3.6 acres, is well-positioned in Freeport's downtown district, along Main Street, a key pedestrian and vehicular thoroughfare.
  • 122,121+/- square foot open air plaza setting plus 520+/- space parking garage beneath the main retail area with direct elevator access to all levels.
  • L.L.Bean, a global outdoor brand, anchors the center with a LEED Certified outlet store.
  • Parking garage was constructed using TIF agreement with the Town of Freeport, providing continued revenue to the purchaser through its expiration in 2026. 
 
Tenant Composition:
  • The shopping center is approximately 73% leased, with national retailers accounting for nearly 63% of Gross Leasable Area and approximately 87% of rental revenue.
  • Notable tenants include L.L. Bean, Old Navy, Brooks Brothers, Coach, Skechers, Lindt, Oakley, Talbots, Carter’s, and Famous Footwear.
 
Strategic Location:
  • Freeport is home to a robust retail district attracting more than 37+/- million visitors annually (pre-covid).
  • The property is strategically located across from L.L.Bean's flagship retail campus, with an Amtrak station nearby, providing direct access to and from Boston.
  • The center is approximately one-quarter mile from Interstate 295, a major north/south highway, enhancing its accessibility.
 
Value-Add Opportunity:
  • Immediate leasing upside potential exists through the lease-up of 33,000+/- square feet of available space including vacant movie theatre. 
  • Near-term upside potential through the possible markup of below-market rental rates for tenants with lease expirations.
 
Market Overview:
  • Freeport's retail sector offers a unique shopping experience with a mix of national retailers and locally operated boutiques.
  • The town hosts 120+ stores and specialty shops, including well-known outlet concepts.
  • Recent and upcoming investments align with the community’s vision for growth into a "live-work-play” hub, preserving its New England village charm.
 
Michael B. Carey | ME AUC Lic. 1466 | ME RE Lic. #DB919594

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Mike Carey CAI

Mike Carey CAI: Tranzon Auction Properties

207-776-1936 mcarey@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

  • Buyer's Premium: None.
  • Closing: 30-Day closing, sold in As-Is condition, no contingencies.
  • Deposit Amount: $250,000, in certified funds. Deposit to be increased to equal ten percent (10%) of total purchase price within twenty-four (24) hours of auction end.
  • Broker Co-op: None.
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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