Wiscasset’s business environment took a turn for the better with the sale of Wiscasset Marketplace, the Route 1 strip mall across from Shaw’s Supermarket.

Summit Realty Partners, Inc. of Lexington, Massachusetts announced it had picked up the retail shopping center on behalf of its affiliate, Wiscasset Marketplace, 681 Bath Road, LLC, for $1.23 million. The shopping center has close to 35,000 square feet of floor space and is home to six businesses.

In recent years the mall’s owners have been challenged in attracting and keeping tenants. With Maine’s economy on the upswing, its new owner hopes to reverse that.

In a news release, Summit Realty Partners stated they’ve “initiated an aggressive leasing campaign to fill the remaining vacancies along with hiring Winslow Property Management to provide hands-on property management to improve overall operations of the shopping center.” Winslow Property Management is also based in Lexington.

Summit Realty Partners represented the buyer in the transaction while NAI The Dunham Group represented the seller, Wiscasset Marketplace LLC, a Maine LLC.

In response to an email query from the newspaper, John Tardif, head of business development at Summit Realty Partners, wrote, “The new owners are a group of experienced real estate owners and operators who all have ties to Maine. The new owners look for ... properties that can benefit from sound property management and leasing skills.”

Tardif added, “We are prepared to make some cosmetic changes initially with other changes pending based upon the needs of future tenants.”

Stan Waltz, Wiscasset code enforcement officer, said any interior or exterior renovations would require a building permit. Commercial building permits are $200 for the first $1,000 spent and then $3 per $1,000 after that. Waltz said the mall’s new ownership had contacted him about placing a sign on top of the building advertising space was available at the mall.   

The mall underwent a fairly extensive remodeling a few summers ago but four of its stores remain vacant; the most recent tenant to vacate was Pet Life. The current tenants include: The Dollar Store, Subway, Market Place Café and Garden Island Laundromat. Also located on opposite ends of the parking lot are Nickels Backs, a bottle redemption center and Island Teak, a seasonal business.

A dozen or more tenants have come and gone since the strip mall’s construction in the spring of 1982. When it first opened, it was home to the Bass Shoe Factory Outlet, Fashion Bug and several other retailers. Nine years later it nearly doubled in size and became known as Wiscasset Plaza.

Following the departure of the Bass Shoe outlet and Fashion Bug, Yellowfront Grocery moved in remodeling the roof on the southern end of the building to resemble their store in Damariscotta, although they too eventually left. The mall’s past tenants over the years have included a pharmacy, DVD rental store, discount furniture outlet, a store selling children’s apparel and briefly a skating rink. The building now used as a bottle redemption center was once an ice cream stand.

The property formerly owned by Wiscasset Marketplace LLC is situated on 6.3 acres. It has two entrance/exits on Route 1 and includes 126 parking spaces. The purchase was finalized on Dec. 29. Wiscasset Marketplace is one of the four largest retail properties in Wiscasset, the others being Wiscasset Ford, Shaw’s Supermarket and Ames True Value.