Category: Insights

The Downs: Innovation District

Industrial Market Outlook

January 27, 2022

March 2022 Maine Industrial Market Update: In the first quarter of 2022, Maine’s industrial market has, by and large, played out as most have expected. Out-of-state investment in the industrial market (and in Maine’s CRE markets in general) continues to grow, as lease rates trend closer to double digits in Greater Portland and the Lewiston/Auburn market. Vacancy rates continue to … Continue reading Industrial Market Outlook

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Southern Maine CRE Predictions by Jessica Estes

Southern Maine CRE Predictions

January 27, 2022

Maine’s economy has been unsettled over the past 20 months, much like the rest of the United States. But unlike the rest of the country, Maine, and more specifically, Cumberland and York Counties, have unique challenges and opportunities. Coming economic shifts will impact commercial real estate, as the built environment adapts to changes in how we live, work, and play. … Continue reading Southern Maine CRE Predictions

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353 Water Street, Augusta

Central Maine Commercial Real Estate Market Update: 2022

January 27, 2022

Augusta Market Update After a bumpy 2020, the second half of 2021 has seen a revived interest in the Augusta office market. In October, the Maine Department of Inland Fisheries and Wildlife (IFW) leased 43,000± SF of Class A office space at 353 Water Street. The transaction marked the largest office lease deal in Central Maine since the onset of … Continue reading Central Maine Commercial Real Estate Market Update: 2022

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Wharf Street, Portland Maine

Industry Spotlight: Hospitality

January 27, 2022

Hospitality & Tourism in Maine: Maine’s hospitality and tourism market generates an average of $11 billion annually and is one of the state’s largest economic sectors. Portland is at the center of this sector as Maine’s largest city and one of the state’s biggest draws. Last year, I highlighted the pandemic-related challenges faced by Portland’s bustling restaurant industry. Twelve months … Continue reading Industry Spotlight: Hospitality

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Lewiston Auburn Androscoggin River

Lewiston-Auburn Market Overview

January 27, 2022

Developers, owner-users, tenants, and investors are beginning to view Lewiston-Auburn as the next area of the state poised for growth, as evidenced by rising lease rates and record sale prices – and in spite of soaring construction costs. Housing Development Like in many areas throughout Maine, developers have taken notice of the housing shortage in Lewiston-Auburn. Over the past year, … Continue reading Lewiston-Auburn Market Overview

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Southern Maine

Economic Impacts from COVID Transplants

January 27, 2022

As with the year before, the past 12 months were largely characterized by profound change. The pandemic continued to shine a light on how we spend our time, what we spend it on, and, in many cases, where we spend it. For many seeking a better quality of life during the pandemic, Maine was at the top of the list. … Continue reading Economic Impacts from COVID Transplants

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Downtown Portland

Multifamily: The Effects of Portland’s Inclusionary Zoning

January 26, 2022

In November 2020, Portland passed a significant new referendum for the city. Colloquially known as the “Green New Deal,” the referendum primarily addressed energy efficiency standards on new construction, but also included a change to the inclusionary zoning (IZ) provision that exacerbated the already-strict affordable housing requirements around new development. It has been a year since that referendum went into … Continue reading Multifamily: The Effects of Portland’s Inclusionary Zoning

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Cross-Laminated Timber Office Building in Maine

Development Spotlight: Beyond the Peninsula

January 27, 2022

These days, when people think of Maine, they often think of Portland. As Maine’s largest city and business hub, Portland is celebrated for its award-winning restaurants and brewery scene, historic Old Port, and working waterfront. So much so, that robust real estate demand over the past decade has left limited development sites on the Portland peninsula. With record-high price points … Continue reading Development Spotlight: Beyond the Peninsula

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COVETRUS Maine Office Building

The Rise of Maine’s Startup Community

January 27, 2022

The Maine business world is made up of many diverse industries—animal health, beer, seafood, agriculture, wellness, technology—we are a melting pot of innovation.  All of these companies have something in common: they began as an idea. But ideas do not just turn into successful companies on their own. What makes the Maine startup community so robust? “The most important thing … Continue reading The Rise of Maine’s Startup Community

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The Boulos Company's Manchester NH Brokerage Office

Manchester Brokerage Office Joins The Boulos Company

January 11, 2022

Manchester, New Hampshire, and Portland, Maine, January 10, 2022: The Boulos Company, Northern New England’s commercial real estate market leader, is excited to announce that it is expanding its operations, and welcomes the brokerage team of Roger Dieker, Mike Tamposi, Chris Healey, and Transaction Manager, Karen Gazzara to their new office at 650 Elm Street, Manchester, NH. A Transition from … Continue reading Manchester Brokerage Office Joins The Boulos Company

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How Will COVID-19 Change the Office?

November 29, 2021

Drew Sigfridson, SIOR, Managing Director The world is changing fast and office users are in the forefront of that change. It is no secret that the way companies use office space is facing a transformation. This time last year, uncertainty reigned supreme in the office market. The Boulos Company conducted a survey in their Maine and New Hampshire markets. They asked … Continue reading How Will COVID-19 Change the Office?

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Tenant_Representation

Tenant Representation

March 27, 2019

I was recently talking about work with a friend who’s a financial advisor in New Hampshire. He’s looking to expand out of his home office to grow his practice and was surprised to hear that this is something a commercial real estate broker can help with.  He thought that we only help people buy and sell real estate and list … Continue reading Tenant Representation

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