65-79 Topsham Fair Mall Road, Topsham, ME 04086 For Sale

THE ASSET: The Topsham Fair Mall II is improved by 65-79 Topsham Fair Mall Road is improved by an 85,029 square foot retail center, and a large parcel of land on a combined 7.54-acres of land. The Property was constructed in 1986 and features six (6) commercial suites. The Property is anchored by Reny’s, Smitty’s Cinema, and New England Fitness.

The asset offers a value-add opportunity with 79 Topsham Fair Mall Road, an adjacent 2.62-acre parcel that can accommodate up to a 10,000 square foot building or a drive through facility.

Additionally, the Topsham Fair Mall is adjacent to 49-55 Topsham Fair Mall Road (Topsham Fair Mall I) which is improved by a 74,432 square foot retail center and features seventeen (17) commercial suites. The Property is anchored by New England Fitness and The Furniture Gallery and has two pad sites leased to Jersey Mike’s and Highbrow. This Property is available for sale and can be purchased separately or in conjunction with Topsham Fair Mall II.

The larger commercial development also features a Hannaford (endcap location) and pad-sites leased to Panera, McDonald’s, Starbucks, Wendy’s, Aspen Dental, Norway Savings Bank and Washville Car Wash (all of which are not part of the offering).

OPERATING EXPENSE PROTECTION: All of tenants have net leases and are responsible for reimbursing their pro-rata share of operating expenses, repairs, and maintenance, making it an attractive investment for the passive real estate investor and protecting against rising expenses.

PRIME RETAIL LOCATION: The Property has outstanding frontage and visibility along Topsham Fair Mall Road and is also partially visible and easily accessible from Interstate 295, the area’s primary commuter highway. Topsham Fair Mall enjoys convenient access to major area roads including ME Route 196, US Routes 1 and 201, and Interstate 295. The Property is surrounded by the area’s grocery stores, national retailers, and restaurants, and is convenient to area schools including Mt. Ararat Middle & High Schools, Brunswick High School and Bowdoin College (2.8-miles away).

AREA DRIVERS: Topsham is strategically located along Interstate 295, providing easy access to Portland (30 miles to the south), Lewiston/Auburn (20 miles to the west), and Augusta (30 miles to the north) the largest cities and economies in the region. Its proximity to Brunswick and Bath creates a dynamic regional economy. The town is home to well-regarded schools, and recreational opportunities such as hiking, fishing, and kayaking along the Androscoggin River. Additionally, residents benefit from Topsham’s proximity to Bowdoin College in neighboring Brunswick, which enriches the cultural and intellectual atmosphere of the area.

BOWDOIN COLLEGE: The Topsham Fair Mall is less than 3-miles from Bowdoin College, one of the most prestigious liberal arts colleges in the country. Founded in 1794, Bowdoin has an undergraduate enrollment of 1,870 students and employs more than 300 faculty and staff members. The campus is set on a sprawling 207 acres. Bowdoin is a central pillar of the community, driving economic growth and cultural development in the area. In the 2024 edition of the U.S. News & World Report rankings, Bowdoin was ranked tied at 5th best overall among liberal arts colleges in the United States.

RESIDENTIAL DEVELOPMENT: Topsham is home to one of the nation’s premier retirement communities, The Highlands and Highland Green, on opposite sides of Route 196 (the ‘Coastal Connector’). Topsham has significant multifamily developments on the opposite side of Winter Street from the Topsham Fair Mall Road intersection, and benefits from a new project just starting construction on Park Place within the Mall area itself. Neighboring Brunswick has seen the development of hundreds of new apartments, primarily at Brunswick Landing, and the pace of this development continues unabated.

SIGNIFICANT AREA EMPLOYERS: The area is home to Bath Iron Works, Maine’s largest manufacturing employer. Bath Iron Works is a leader in designing and building U.S. Navy ships. Part of General Dynamics Marine Systems, Bath Iron Works’ ability to design, build and maintain our nation’s most advanced warships is a critical element of the U.S. defense industrial base. BIW operations and investment have had an outsized impact on the Maine economy. In 2023, BIW employed 6,722 people – 12.4% of Maine’s manufacturing employment and supported more than $2.5 billion in economic output. Brunswick Landing, the former Brunswick Naval Air Station, has been transformed into a robust work-live-play community and a draw for innovative people, entrepreneurs and high-tech businesses. Brunswick Landing’s campus is host to the Brunswick Executive Airport (BXM), a regional general aviation airport with more than 27,000 annual flight operations; Southern Maine Community College; and manufacturing business incubator, TechPlace, which is powered by an independent power grid run on renewable energy and provides high-speed fiber optic and data networks. Brunswick Landing is also home to more than 150 business entities, bringing the workforce on the Landing to just under 3,000 jobs and growing rapidly. Brunswick Landing features a residential component with significant established communities in place and major new developments comprising hundreds of units continuing.

RETAIL TRADE AREA: The Topsham Fair Mall locations of several stores and businesses have among the highest sales volumes in their respective chains, notably Renys, its Topsham Fair Mall location performing best of its 18 stores (reaching its percentage rent breakpoint in only its second year). Additional tenants drawing consumers to the trade area include the mid-coast region’s only Target, Home Depot, Market Basket, Dick’s Sporting Goods, and Petco, as well as other national retailers and businesses including Hannaford, Five Below, Dollar Tree, Quest Diagnostics, Aspen Dental, Walgreens, Town Fair Tire, Tire Warehouse, Washville Car Wash, 99 Restaurants, Buffalo Wild Wings, Panera, Starbucks, McDonald’s, Wendy’s, Arby’s, Dunkin’, Aroma Joe’s, Irving Oil, and Mobil. The Topsham Fair Mall area is the sole mid-coast location of several ‘big box’ stores, its trade area extends as much as 20 to 30 miles to the north and south along Route 1.

TRAFFIC COUNTS: Over 39,900 vehicles pass the Property every day at the signalized intersection of Topsham Fair Mall Road and Lewiston Road (ME Route 196). Additionally, the Property is positioned adjacent to the exit 31 on/off ramp for Interstate 295 which sees more than 28,000 vehicles per day.

DEMOGRAPHICS: Approximately 18,700 people live within 3-miles of the Property with an average household income of $117,412. More than 70,500 people live within 10-miles of the Property with an average household income of $112,877. Additionally, Brunswick and Topsham are a major destination for both retired Navy personnel who were assigned to the former Brunswick Naval Air Station, now Brunswick Landing, and Bowdoin College alumni