Downtown Portland Class A Office 2023 Mid-Year Update       By Samantha Marinko | Associate       This time last year, I made reference to “the current stalemate in the market,” referring to the minuscule variance in the vacancy rate for downtown, Class A office buildings in the six months prior. This year, I have a similar report. … Continue reading Downtown Portland Class A Office 2023 Mid-Year Update

The Economic Landscape of Maine’s Midcoast Region: A Blend of Commerce, Tourism, and Coastal Charm     By Roy Donnelly | Associate       Maine’s midcoast region, running between Brunswick and Belfast, is one of the older parts of the state, both demographically and structurally. Unlike southern Maine and Lewiston/Auburn through Augusta/Waterville, the midcoast relies on two-lane roads as … Continue reading The Economic Landscape of Maine’s Midcoast Region: A Blend of Commerce, Tourism, and Coastal Charm

Construction Costs & The Impact on CRE     By Chris Romano | Associate       The cost of construction has been a hot-button topic in the commercial real estate and development discourse for several years now. The industry has experienced skyrocketing prices in nearly every facet of the business (labor, materials, insurance, etc.) and the effect has been … Continue reading Construction Costs & The Impact on CRE

Portland ME’s 2024 Office Market Outlook     By Nate Stevens | Partner, Designated Broker DECEMBER 2023 When the Great Recession hit the office leasing market in 2008-2009, there was an initial sharp increase in the Greater Portland vacancy rates which continued to trend upward over four years until rates started to decline in 2013. Many companies were committed to … Continue reading Portland Maine’s Office Market Outlook 2024

Filling the Grocery Gap: The Need for a Small Market in Portland’s Central Business District     By Reese McFarlane | Associate       Portland, Maine is quickly becoming the go-to destination for people looking for a charming and vibrant community. With its stunning waterfront and delicious food scene, it’s no surprise that more and more people are choosing … Continue reading Filling the Grocery Gap: The Need for a Small Market in Portland’s Central Business District

    By Christian Stallkamp | Senior Partner, Broker       If you’ve been keeping up with current events, you may have noticed a shift from concerns about the banking sector to worries about the commercial real estate industry, specifically the office market. However, it’s important to note that the New Hampshire Seacoast office market is not comparable to … Continue reading Rising Office Vacancies Can Create An Opportunity For The New Hampshire Seacoast

The 2023 Maine Industrial Market Outlook     By John Rizzo, SIOR | Partner, Broker         Has supply met demand? Has demand softened? It’s a bit complicated right now. We are still living in a market with an approximate two percent vacancy rate for the industrial sector. With that said, we are also living in a new … Continue reading The Maine Industrial Market Outlook 2023 Update

2022 Transaction Highlights I-93 / Route 3 Corridor     By Michael Tamposi | Partner         2022 proved to be another busy year with lots of activity. The lack of inventory being “on the market” did not slow transactions down. Investors and users were both busy acquiring off-market properties. We have highlighted a sample of transactions from … Continue reading 2022 Transaction Highlights I-93 / Route 3 Corridor

Maine’s Midcoast Commercial Real Estate Market Update: 2024     By Roy Donnelly | Associate         There is no doubt that Maine’s Midcoast region benefitted from relocation trends spurred by COVID and the subsequent run-up in values. Population growth rates between April 2020 and July 2022 in four Midcoast counties equaled or outpaced that of Cumberland County, … Continue reading Midcoast Maine Commercial Real Estate Market Update: 2024

Maine Retail Real Estate Market Outlook 2024     By Joseph Italiaander | Associate Broker       Maine commercial real estate has experienced a range of highs and lows across all asset types over the past few years. For example, we’ve seen unprecedented growth in the industrial sector. Maine’s warehousing/manufacturing companies, along with investors, have flocked to available product, … Continue reading Maine Retail Real Estate Market Outlook 2024

Lewiston-Auburn Commercial Real Estate Market Update: 2024     By Noah Stebbins | Broker       The Lewiston-Auburn commercial real estate market continued on an upward trajectory over the past year, with new commercial/residential development projects announced or in the works, exciting new retailers entering the market, strong industrial demand, and motivated city officials, aiming to transform their respective … Continue reading Lewiston Maine Commercial Real Estate 2024 Market Update

Central Maine Commercial Real Estate Market Update: 2024     By Chris Romano | Associate       If you follow nationwide trends, turmoil in the office sector should spell doom and gloom for the entirety of Central Maine property values—the region’s commercial real estate market has traditionally been heavily saturated by office space. Fortunately, this is far from the … Continue reading Central Maine Commercial Real Estate 2024 Market Update