FALMOUTH — After more than a year, a new tenant may have been found to fill a high-visibility property in the Route 1 corridor.
A broker with Compass Commercial Brokers of Portland confirmed Tuesday that the former Wendy’s restaurant at 206 U.S. Route 1 is under contract.
However, associate broker Jennifer Davies said she could not disclose any information about the agreement, not even what type of business is interested in the property.
“Even though it’s under contract we’re still working out the agreement terms,” she said.
Wendy’s closed abruptly in the fall of 2015, and the building has remained empty ever since. The fast-food franchise was first approved by the Planning Board in 2000, and received a certificate of occupancy in January 2001. Its lease expired at the end of 2015.
Officials in the planning and code enforcement offices said they have not seen anything regarding a new tenant for the property near the busy intersection of Route 1 and Depot Road.
Meanwhile, across the street, the former Pratt Abbot Cleaners property at 231 U.S. Route 1 remains vacant.
In July, the company announced it was moving after 25 years to 240 U.S. Route 1, a space formerly occupied by Portland Dry Cleaners. Pratt Abbott President David Machesney said the landlord, P&K Realty, wanted to redevelop the property.
The property is listed for lease by CBRE/The Boulos Co. On Tuesday, partner Greg Boulos said a lot of interest has been shown, but there is no deal in the works.
Most of the interest has come from established local businesses in the greater Portland area, ranging from restaurants to retail, according to Boulos.
After being vacant for more than a year, the former Wendy’s restaurant on U.S. Route 1 in Falmouth is under contract.