WEX’s new 105,000 SF waterfront headquarters is expected to be move-in ready by late January. The company will bring about 400 employees to the impressive building, which broke ground back in October of 2017. The new headquarters will bring WEX back to the city where the company started. Read the Portland Press Herald story here.
Historic waterfront site next to South Portland’s Bug Light Park has passed from one family of developers to another. Thomas Moulton and Katie Millett brokered the sale. Read the Mainebiz story here.
The rapidly growing outdoor and lifestyle brand, Flowfold, has acquired 16 Sanford Drive in Gorham. This 7,500-square-foot multi-tenant industrial building will serve as the company’s new headquarters. The move was prompted by consistent year-over-year growth and a need to keep up with expanding sales. Justin Lamontagne, CCIM, SIOR assisted in Flowfold’s site search and brokered… » Read more
Southern Maine’s multi-family investment market remains red hot as we are seeing many qualified buyers, both local and out of state, submitting purchase bids. Increased interest rates of approximately 100 basis points over their lows of a year ago have not produced the expected rising capitalization rates. This is primarily due to ever increasing investor… » Read more
The Greater Portland Office market has continued at a steady pace in the first half of 2018; there are currently 1.5± MM square feet of office space available for lease. Rental rates have plateaued or dipped slightly depending on asset class and parking costs continue to rise, but when will tenants say enough is enough?… » Read more
The Southern Maine investment market remains robust. Out of state investors, 1031 tax deferred exchange transactions and historically low interest rates have all contributed to the continued strength of investment sales over the past year. CAP rates appear to have somewhat plateaued but remain historically low. Although the investment market sector remains strong, it is… » Read more
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
Traditional retail, defined as Malls and shopping centers, are experiencing slow absorption of vacant space. It is the retail boxes 20,000 SF and up that are the most problematic. Adding to the inventory are recent storeclosures of Sears and their Kmart division, as well as the recent bankruptcy filing by Toys R Us that has… » 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.
We are pleased to announce a new addition to our brokerage team! Sam LeGeyt joins us with experience in the Greater Portland office and investment markets. Prior to joining The Dunham Group, he was a broker at Harnden Commercial Brokers. Sam is a graduate of UNH’s Peter T. Paul College of Business and Economics and… » Read more