After 20+ quarters of shrinking vacancy rates and rising lease prices, the Southern Maine industrial sector finally saw signs of slight market correction. Vacancy rates have risen for the first time in almost six years, albeit marginally. My current estimation is that the overall Greater Portland industrial vacancy rate is hovering near 2.5%, up from… » Read more
New on the market! We are pleased to offer the The Children’s Museum of Maine building for sale. Located at 142 Free Street, this is a unique opportunity to own a historic piece of Portland. Read Mainebiz story here.
‘Layered’ deal at Foden Road in South Portland results in a commercial condominium agreement for Agren Appliance and Bedderrest. Read the summary by Mainebiz here. We are also listing the 10,500 SF former Thatcher’s space for lease!
Greater Portland’s industrial vacancy rate is at an all-time low. Justin Lamontagne speaks with Mainebiz about this economic crisis.
Here is a summary of the talking points from MEREDA’s annual Forecast Conference yesterday; 900 people were in attendance! Justin Lamontagne delivered his annual Southern Maine Industrial Forecast and unveiled our 2018 Industrial Market Survey. Download your own copy here!
Richardson Allen, high-end outdoor furniture makers, purchased a 3.81 acre lot in Mill Brook Business Park in Saco to construct a new manufacturing plant. They are expected to move into their new facility in January. Greg Hastings, SIOR brokered the sale. Read the Mainebiz story here.
This highly visible part of downtown encompasses an entire city block, right next to City Hall. The 2.2± acre property consists of an industrial building (formerly the Press Herald print building), 2 parking lots, and another industrial building. Tom Moulton, CCIM, SIOR and Katie Millett brokered the sale on behalf of the seller, Metro Media… » Read more
WEX was welcomed to Portland by city officials and developer Jonathan Cohen in a groundbreaking ceremony held this morning. 1 Hancock Street is the site of the company’s new world headquarters. (Read Mainebiz story here). The WEX development project received final planning board approval from the City on October 4th. This one-of-a kind building will be Portland… » Read more
NAI The Dunham Group is pleased to announce that the Portland City Council unanimously approved the contract to sell the City-owned 1.1± acre parcel of land located at 0 Hancock Street to Jonathan Cohen of 0 Hancock Street LLC. The developer has an agreement to lease a new 100,000 square foot glass headquarters building to… » Read more
On June 29th, New England Real Estate Journal will hold their 2017 Summit – Northern New England State of Commercial Real Estate at the Portsmouth Harbor Events & Conference Center. Justin Lamontagne will a part of the panel of speakers at this event! Register here.