Category: Market Outlook 2022

A Message from Drew Sigfridson | 2022 Maine Commercial Real Estate Market Outlook

A Message from our Managing Director

January 13, 2022

2021:  A Pivotal Year What will 2021 be remembered for? COVID-19 and the Delta variant? Masks vs. no masks?  Vaccine or no vaccine? Record fast distribution of vaccines for those who wanted it? The year that the validity of our elections was questioned? The U.S. Capitol stormed? The withdrawal from Afghanistan after the 20-year anniversary of 9/11? Tom Brady winning … Continue reading A Message from our Managing Director

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Portland Maine Office Market Overview | 2022 Maine Commercial Real Estate Market Outlook

Office Market Outlook

January 13, 2022

The Greater Portland Office Market has remained resilient over the past couple years, as evidenced in our survey last year. We had all hoped for a return to some normalcy in the office market in 2021, but as the pandemic continues, so does the uncertainty of its impact on office space. Here at The Boulos Company, we didn’t know what … Continue reading Office Market Outlook

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269-279 Center Street, Auburn | Sold by Chris Paszyc

Capital Markets Overview

January 27, 2022

GENERAL TRENDS  In last year’s Market Outlook, we stated that given the savory ingredients of abundant liquidity, low cost of capital, wider yield spreads, and rebounding asset value appreciation, we expected investor appetites to acquire more commercial real estate (CRE) in 2021 to return to the insatiable pre-COVID levels, albeit with some sectors faring better than others. As of late … Continue reading Capital Markets Overview

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The Downs: Innovation District

Industrial Market Outlook

January 27, 2022

It is no surprise that we may sound like a broken record over the last two years as it relates to the industrial market. Extremely high demand coupled with historically low supply has created a rising tide for sale prices and lease rates across the United States. According to Cushman & Wakefield’s U.S. National Industrial Q3 2021 market report, the … 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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Fall foliage

Central Maine Market Update

January 27, 2022

Augusta 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 the COVID-19 … Continue reading Central Maine Market Update

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hospitality

Industry Spotlight: Hospitality

January 27, 2022

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 later, we will look at … Continue reading Industry Spotlight: Hospitality

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buildings in sky

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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Economic Impacts from COVID Transplants

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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Housing

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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Market outlook discussion

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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