The Greater Portland overall industrial vacancy rate dropped below 2% for only the 2nd time ever, continuing a decade-long bull run in the industrial market. The statistics as of July 1, 2021, are astounding and confirm our anecdotal and transactional workload. Today the vacancy rate for over 20,000,000 SF of industrial space is a paltry… » Read more
Vacant lot in downtown Biddeford could be transformed into a vibrant food court for food trucks! A Maine entrepreneur has submitted his proposal to city officials. Read the Press Herald story here. Photo by Carl D. Walsh, Press Herald
Congrats to Agren Appliance on the purchase of their new HQ at 11 Adamian Drive in Auburn! The company outgrew their former headquarters and this location was perfect for their future plans to build a warehouse/distribution facility on the adjacent land they already owned. Agren also recently purchased additional space to expand their South Portland location… » Read more
Congratulations to Volk Packaging on leasing 85,640 SF at 1 Eagle Drive in Sanford from 43 North, LLC. TC Haffenreffer, Sylas Hatch, Greg Hastings, SIOR and Tom Dunham, SIOR brokered the lease. Volk will expand their operations at this new location and plans to hire 20 employees within the coming year. Read the Mainebiz story here.
10 Dana Street, a ‘quintessential’ Old Port brick building (with our office on the top floors!), recently sold to a local investor for $3.6 million. Chris Craig brokered the sale. Read the Mainebiz story here.
Northland Enterprises of Portland purchased 1601 Congress Street from OGH Realty Associates, LLP. This 29,000 SF medical office building sits on 11 acres in the Stroudwater area of Portland. Maine Medical Partners Dermatology is currently renovating the first floor and will join its medical tenant roster this summer! Dunham Group’s Sam LeGeyt, TC Haffenreffer, and Sylas… » Read more
We opened a Call for Offers this week on this incredibly unique property. Portland waterfront’s oldest wharf, Union Wharf, is available for sale for the first time in its history. Contact listing brokers Chris Craig, Tom Dunham, SIOR & Greg Hastings, SIOR for more information. Read the Mainebiz story here. View listing details and brochure… » Read more
Tom Dunham brokered the sale of 1149 Main Street, a 60,000 SF industrial facility, in North Jay. With a strong desire to expand in Franklin County, Origin Labs purchased the property to expand the nutritional arm of the company. It will serve as warehouse and distribution for their Jocko Fuel line of drinks and supplements.… » Read more
Great conversation about how the pandemic has affected Maine’s real estate market on Maine Calling Friday. Local pros discuss the trends and changes and Justin Lamontagne hops in at minute 25:50 to share an update on the commercial sectors. Listen to the episode here.
What’s trending in commercial development in 2021? These local experts talk about development with purpose, retail reboot, big box to industrial (from Justin Lamontagne), and more. Read the Mainebiz story here.