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
‘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!
The Maine Real Estate & Development Association (MEREDA) will hold their annual Forecast Conference one week from today – Thursday 1/18! As always, Justin Lamontagne, CCIM, SIOR will deliver the Southern Maine Industrial Forecast and he will unveil our annual Greater Portland Industrial Market Survey. Register here and come see us at Booth #4 to grab your copy… » Read more
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
We are pleased to announce that Justin Lamontagne has earned the prestigious Society of Industrial & Office Realtor’s (SIOR) designation. SIOR is the leading global professional office and industrial real estate association. Justin now becomes only the 5th broker in the state of Maine to carry both CCIM (Certified Commercial Investment Member) & SIOR honors.
