State Theatre Building:
Porta & Company is pleased to present the unique opportunity to acquire the State Theatre Building.
Located at 142 High Street in the heart of Portland, Maine’s Arts District, the building sits on 0.67 acres and consists of 99,488 square feet of mixed-use space.
The building is home to the State Theatre performing arts venue that originally opened in 1929 and was then restored in 2010. The 21,206 square foot venue continues to offer performance art and live music to sellout crowds with a capacity of 1,870 seats.
The remaining square footage of the building consists of retail, creative studios, and collaborative commercial suites.
The sale of 142 High Street offers investors the opportunity to capitalize on below-market rents, invest in a reduced-risk asset, and the long-term potential of repositioning a historic landmark.