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

The Manchester/I-93/Route 3 Corridor New Construction 2024 Update     By Michael Tamposi | Partner       In 2023, a number of noteworthy projects have either reached completion or are currently in progress. Traditionally, new construction activity in Southern New Hampshire has primarily catered to end-users. However, this past year has witnessed a shift, with several projects being undertaken … Continue reading Manchester New Hampshire New Construction Update: 2024

Maine’s Industrial Market Outlook for 2024     By Jon Rizzo, SIOR | Partner, Broker       In my 2023 Industrial Market Outlook, I mentioned how the change from a macroeconomic perspective (rising interest rates and inflation) caused a significant slowdown in commercial real estate transaction volume for the second half of the year. There was a disconnect between … Continue reading Maine’s Industrial Market Outlook for 2024

Downtown Portsmouth Real Estate Development Projects| What is really taking shape in 2024?     By Caitlin Burke | Senior Associate       The past few years we have tracked Portsmouth’s Downtown development, as it is always top of mind for many of the investors and tenants we talk with throughout the year. When driving through the Downtown corridor, … Continue reading Downtown Portsmouth Development Projects: 2024 Update