Samantha Marinko, Associate In January, The Boulos Company released the 2021 Annual Market Outlook, which gives an overview of Maine’s commercial real estate market. The numbers spoke and the effect of the pandemic was evident, particularly when considering the vacancy rate in Class A office buildings in downtown Portland. However, the last six months suggest that the winds may … Continue reading Mid-Year Update: Downtown Class A Office Space

The Boulos Company has released Maine’s COVID Office Impact Survey entitled: “Where’s Maine Working?” – The Boulos Company interviewed over 160 Maine professionals to determine how many companies are working from home, how productive they feel, and when they’re headed back to the office.

Boulos conducted the survey to provide Maine’s business community with insight into how their peers have responded to the pandemic and to share critical information as they move forward in an unprecedented real estate market.

COVID-19 has had an enormous impact on the way each of us work and live and an attendant effect on the office market. Landlords and tenants have been forced to navigate these uncertainties as best they can. In this article, we note some of the best practices for officing during the pandemic, review the market situation, and look at emerging trends that may guide the year ahead.

The Boulos Company has released its “Where’s New Hampshire Working?” survey which explores the impact of COVID-19 on the commercial office market. The survey, conducted December 2020 through February 2021 provides a snapshot of the local response to the pandemic. More than 60 New Hampshire professionals from a range of industries answered questions about working from home, productivity, office reentry plans, and more.

It should be no surprise to anyone that the Greater Portland office market was affected by the pandemic in 2020. When The Boulos Company began our annual market survey of 12 million square feet across 350 Class A and Class B office buildings, we didn’t know what to expect.

In the face of the COVID-19 pandemic, businesses are eager to have their employees return to the workplace. Understanding and determining who will return—and when—will be a complex process. These are some areas to consider. We encourage you to take what is applicable to your company and to reach out to our team at The Boulos Company if you have any questions as you review the information.

The Boulos Company has been on the frontlines of commercial real estate since 1975. We have been helping businesses to make smart real estate decisions ever since then. In the wake of COVID-19, we have developed a step-by-step approach to help businesses to understand the effect of COVID-19 on their space, to get the most out of their staff, and to spend their money effectively. In our recent COVID Office Impact Survey, we asked 150+ professionals in Maine what their plan was to re-enter the workplace. Of the responses we received, far too many indicated “I don’t know.” This pushed our team to shed light on this topic. In doing so, we aim to arm tenants, owners, and landlords with the information necessary to plan for the road ahead. Below are a few steps we would take to help you make a plan for your business.

The Mills Administration announced today that Maine will move into Stage 4 of the Plan to Restart Maine’s Economy beginning Tuesday, October 13, 2020.

Reopening Maine’s economy requires all of us to do our part in moving forward together by following guidelines from the Maine Center for Disease Control (CDC) and the Maine Department of Economic & Community Development (DECD).

As the number of COVID-19 cases begins to decrease, the State of Maine is adopting a staged approach, supported by science, public health expertise and industry collaboration, to allow Maine businesses to safely open when the time is right.

The Boulos Company is working hard to ensure the safety of its brokers, employees, clients and members of the general public while still hosting in-person meetings and showings. To that end, we have established the following protocols for conducting meetings and showings.

  By: Kent White, Principal Broker | Partner Over the past 25 years, I have grown accustomed to having a schedule. I wake up at 4:45 am, go to the gym, have breakfast with the kids, and then leave for the office. It’s a routine that I enjoy and appreciate now more than ever. Currently, the gym is closed, the … Continue reading A Candid Reflection of COVID-19’s Impact on Commercial Real Estate

  Looking back at my presidents message in March, I spoke about the need to be able to adjust in commercial real estate, with my direct quote being “you may never know what the next day / week / month will bring.” As I look back at that sentence I don’t think I could have even begin to have imagined … Continue reading No Doubt Our Industry Will Be Changed

  I have never been one to work from home.  I like going to the office every morning.  I like the routine of it.  My desk, computer, my files, my fast printer that can scan more than one page at a time, but most of all I enjoy being with all of my co-workers, clients, and OTHER PEOPLE.  I realize … Continue reading Our Work Environment: Home vs. Not Home

  On Wednesday, April 8th, 2020, Governor Janet Mills signed an Executive Order   allowing remote notarization. The Order, effective immediately, temporarily suspends the provisions of Maine law that require the physical presence of a notary or witness with certain exceptions. The Order permits Maine people to conduct important business that requires sworn statements or affidavits with minimal in-person interaction. … Continue reading Maine Adjusts Notarization and Acknowledgement Requirements

  On April 9th, 2020, the IRS published Notice 2020-23  in which the IRS extended a number of deadlines for tax return filings and a select number of deadlines imposed under the Internal Revenue Code in response to the COVID-19 pandemic.  As a result, individuals, corporations, trusts, estates and other taxpayers that ordinarily would have had a filing, payment or … Continue reading IRS Deadline Extensions for 1031 Exchanges & Opportunity Zone Investors

  On Friday, April 3rd, 2020, Governor Janet Mills issued an Executive Order mandating that travelers arriving in Maine self-quarantine for 14 days to lessen the spread of COVID-19. The Order exempts individuals who are providing essential services as defined by Governor Mills’ March 24th, 2020 Executive Order. “To slow the spread of this deadly virus and prevent our health … Continue reading Governor Mills Issues Executive Order Mandating Quarantine Restrictions on Travelers Arriving in Maine 

  On Tuesday, March 24th, 2020, Governor Janet Mills signed an Executive Order mandating that all non-essential businesses and operations in Maine close their physical locations that are public facing. Non-essential businesses may continue to operate provided they (a) do not allow customer, vendor, or other visitor in-person contact; (b) do not require more than ten workers to convene in … Continue reading State of Maine Essential Business List

  On Behalf Of Portland Downtown:   The City of Portland is issuing the following updates related to its COVID-19 response and resources. City Hall & City Buildings Closed to External Visitors Until April 13 City Hall and all City buildings will now remain closed to external visitors until April 13 instead of March 30. All non-essential staff who can … Continue reading Portland Issues COVID-19 Related Updates on City Services

                    By Drew Sigfridson After a fantastic, but abbreviated trip to Austria in early March, I now find myself in a 14-day self-quarantine. My family and the partners at my office thought it would be prudent to take additional precaution and have me live “upta camp” at the lake… by myself. … Continue reading Let us know how we can help you plan your future.

Federal Resources:   U.S. Small Business Administration Disaster Loan Assistance Online Application  SBA Local Assistance  Capital Access – Incidents can strain a small business’s financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need … Continue reading Federal Resources

New Hampshire Resources:   NH Department of Health and Human Services COVID 19 NH Business Resources

State of Maine Resources:   Unemployment: On March 17, Governor Mills and the Legislature enacted bipartisan legislation to increase flexibility in Maine’s unemployment benefits program. It expands eligibility for benefits to people who are affected by COVID-19 but have not lost their job. The full text of the legislation can be found here. FAQ: Unemployment Insurance FAQs Regarding COVID-19 document … Continue reading State of Maine Resources

Friends and Clients, The environment is changing rapidly for all of you: our clients who are commercial tenants, landlords, developers and property owners. All of us are impacted by the current situation and we all will assist each other in different ways. Our team at The Boulos Company is prepared to assist our clients and community as challenges and difficult … Continue reading A Note From Our Managing Director – COVID 19