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.
Exciting news for downtown Westbrook! MMC purchased One Riverfront Plaza for $10.75 million. NAI Dunham Group’s Charlie Craig and NAI Hunneman represented the seller. Maine Medical Center plans to use the 131,000 square foot office building to house its integrated information services team and other administrative functions that are currently spread across eight office locations. Read… » Read more
New owner/local developer, Fore Street Partners, is happy to welcome Higher Grounds Café to 45 Wharf Street. In January of 2016, the owner and its affiliated companies purchased approximately 50,000 SF of space on Fore and Wharf Streets and are committed to diversifying the tenant base and upgrading this block. Known as a popular street… » Read more
Justin Lamontagne, CCIM and Greg Hastings, SIOR recently negotiated a 7,600 SF lease at 11 Mill Brook Road in Saco. Barrelled Souls Brewing Company leased the space to house their brewing operations. Customers can still enjoy their tasting room at 743 Portland Road, but the bigger space at 11 Mill Brook Road allows them to… » Read more