Raymond Shopping Center under new ownership

By Ed Pierce

After 10 years of ownership by the Gagnon Family, the Raymond Shopping Center has been transformed into a thriving center for commerce and a strong starting point for the revitalization of business in the town.

The Raymond Shopping Center has been sold by KP Gagnon 
to SAMP 1233 LLC of Massachusetts for an undisclosed
price. The property has nine tenants. SUBMITTED PHOTO

The shopping center at 1233 Roosevelt Trail in Raymond was purchased in 2012 by Raymond resident Kevin Gagnon from Tony Accousti of Raymond. Gagnon saw the potential for the property and had been successful in revitalizing shopping centers in Naples, Standish and Gorham previously. Eventually ownership of the property was transferred to Kevin’s son, KP Gagnon, who has just closed on the sale of the 31,749-square-foot facility and property to SAMP 1233 LLC of Massachusetts. The SAMP 1233 LLC company’s managing partner is Nilesh Patel.

One of the popular retail areas in the Lakes Region according to both summer visitors and Raymond residents alike, the Raymond Shopping Center includes space for 10 different businesses, but two are currently leased by the Maine Dance Center. It was remodeled extensively during the past decade by the Gagnons, giving the retail facility a complete facelift and roof replacement while also upgrading and repaving the parking lot.

“It was the right time for us to sell, but it was a hard decision and one that I had second thoughts about it,” K.P. Gagnon said. “My parents are now wintering in Florida and now my wife and I are spending more time there too. It was a difficult choice to make, but we’re very proud of what we’ve accomplished with the property.”

Just two years ago, one of the longtime tenants of the shopping center, the Family Dollar store, expanded their retail space from a 7,200-square-feet facility to 9,300-square-feet.

Family Dollar is one of four tenants of the shopping center, including the Angel Nail Salon, the U.S. Post Office, and the Southpaw Meat Market, that have been tenants for the entirety of the property’s ownership by the Gagnon Family.

“When my father first bought the property, there were four vacancies in the shopping center and now every space there is occupied,” he said. “It’s a real success story.”

The property transfer closed in the second week of January and K.P. Gagnon said he’s sad because through the years, the family has developed strong relationships with tenants of the shopping center.

“It’s like the end of a journey,” he said. “It’s truly difficult because we’re not there every day as we once were. We’ll miss that and have taken great pride in our relationships with our great tenants through the years.”

Marcus & Millichap brokers handled the sale. The sale price was not disclosed. <