Our own Cheri Bonawitz, CCIM will cover the commercial market in the expert panel discussion of the 2021 MEREDA Index at the Maine Real Estate & Development Association’s Spring Conference (virtual event) on May 20th. As a key economic indicator for Maine, the MEREDA Index measures the pulse of the state’s real estate industry. The MEREDA Index is the leading way our industry tracks changes in Maine’s real estate markets. It’s a composite of nine measures reflecting activity in both new development and existing properties, in commercial and residential markets, as well as construction employment. Read more…
Rare Class A Opportunity
300 Fore Street in Portland’s Old Port has five floors and a lower level that add up to 55,188 SF of leasable space offered by the floor. Each floor is approximately 10,000 SF. Contact Joe Malone, CCIM, SIOR or Jennifer Small for leasing information and availability at this amazing property.
Read more here about the property’s background and and its design in the Portland Press Herald.
Small Spaces Flying Off the Shelves at Dana Warp Mill
The mix at the mill, including artists, other makers, small manufacturers, office tenants and others gives the mill "a great vibe," Cheri Bonawitz, CCIM of Malone Commercial Brokers said. Read more here
Dana Warp Mill, 90 Bridge St, Westbrook
Greater Portland Retail Forecast at MEREDA
Get all the information and forecasting from Peter Harrington’s Greater Portland Retail Forecast at the Maine Real Estate & Development Association’s (MEREDA) Forecast Conference (virtual) held January 21, 2021. Thank you to O’Maine Studios for their work and to MEREDA putting together this year’s virtual conference and member showcase.
Gorham's New Business & Industrial Park
Kevin Jensen, Economic Development Director for the Town of Gorham and Mike Anderson of Malone Commercial Brokers were interviewed for MEREDA's 2021 (virtual) Forecast Conference & Member Showcase presented January 21, 2021.
Historic Old Port Buildings Sell
Joe Malone, CCIM, SIOR and Jennifer Small represented the buyer in the sale of the Boyd Block (178-188 Middle Street) and 4 Canal Plaza in Portland’s Old Port District. The three connected buildings are 68,000+ SF of retail and office space. Read more about this $11.7M transaction here in the January 25th Real Estate Insider article by Laurie Schreiber.
Southern Maine Retail Forecast at MEREDA
Our own Peter Harrington will be presenting the Southern Maine Retail Forecast at the Maine Real Estate & Development Association’s (MEREDA) Annual Forecast Conference. On January 21, 2021 real estate leaders and economists will unveil economic projections for the industry and for the state. If you’re in the construction, architectural, banking or legal community, check out the agenda.
Predictable Revenue from National Tenant for 1031 Exchange
John Doyon, CCIM of Malone Commercial Brokers represented the buyer in the purchase of this former Rite Aid, now a Walgreens, in Gray, Maine. Horvath & Trembly (Lynnfield, Mass.) represented the seller. The purchase price was $6.6 million. Read more in Laurie Schreiber’s article in Mainebiz.
Built in 2008, the property comprises a 14,673-square-foot retail store with a drive-through on 2.83 acres. It’s located just off Exit 63 on I-95 at the junction of Route 202 in Gray.
High Demand for Flex Units
The new Mill Brook Business Center in Saco offers industrial flex condominium units across three buildings on a 3.7-acre site within the larger 70-acre Mill Brook Business Park. The units have been marketed by Mike Anderson of Malone Commercial Brokers. Unit sizes range from 1,520 to 3,477 SF, with 17-ft ceilings. Each comes with a bathroom, office, drive-in garage and a basic finish. Read more about Mill Brook Business Center in Laurie Schreiber’s column in Mainebiz.
New Tenants Are Signing Leases
"Activity has been higher than expected or anticipated," Peter Harrington tells WGME CBS13 News' Blair Best. See the entire segment at: https://wgme.com/news/local/some-mainers-see-pandemic-as-opportunity-to-start-new-business
