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**RAM Companies Acquires Industrial Facility in Scarborough, Maine, Plans Rebranding**
The RAM Companies has purchased an industrial property located at 16 Washington Avenue in Scarborough, Maine. The facility, which spans 66,000 square feet on nearly 15 acres within the Scarborough Industrial Park, was previously owned and occupied by Sonoco Corporation. The property is currently vacant, and the terms of the transaction were not disclosed.
RAM Companies plans to rebrand the facility as the Washington Avenue Commerce Center and will initiate a series of upgrades to both the interior and exterior. With interior clear heights reaching 23.5 feet, more than 100 parking spaces, and access to heavy power, the property is suitable for a wide range of industrial and commercial uses.
“It is not every day that we can purchase such a well-functioning, centrally located asset with so much potential, only a few minutes from our headquarters,” said RAM founder Howard Goldenfarb. “Scarborough is a very desirable community in which to do business, and this location in the Scarborough Industrial Park complements our portfolio well.”
Claire Richardson of The Boulos Company has been appointed to handle leasing for the property.
This acquisition underscores RAM’s ongoing strategy of investing in well-located commercial assets with strong potential for redevelopment and repositioning.
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