The shopping center at 127 Topsham Fair Mall Road sold to Zenith Asset Group in June for $1.6 million. Darcie Moore / The Times Record

TOPSHAM — One of the shopping centers at the Topsham Fair Mall was sold to the Portland-based investment group Zenith Asset Group for $1.6 million last month.

Dakota Bear Properties sold the property, located at 127 Topsham Fair Mall Road, on June 11.

The property was initially advertised for a little less than $2 million, according to Josh Soley of Maine Realty Advisors in Portland, which represented Zenith Asset Group in the sale.

Located opposite the parking lot for the Target plaza, Soley said the nearly 9,000-square-foot shopping center is home to five tenants including Gentle Dental, Sally Beauty Supplies, Game Stop and Supercuts. Edward Jones, a financial adviser business, recently vacated one of the spaces. Soley said Supercuts is partially expanding into that space, however, leaving 1,200 square feet for another tenant that should be available before the end of the summer.

Zenith Asset Group is made up of the same principal buyers as Zenith Investment Group, which purchased a retail center at 126 Main St. in Topsham for $1.55 million late last year. Maine Realty Advisors manage their investment groups.

The investment groups mainly focus on the greater Portland area but have been expanding to the Midcoast and central regions of the state to find better returns on their investments, according to Soley. He said Topsham has all the infrastructure of a stronger town and is not far from Portland.

Topsham assessing records show Zenith Asset Group will be the fourth owner of this shopping center, which was built in 2006.

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