Portland, ME CBRE | The Boulos Company has completed the following transactions totaling 84,114 s/f:
• Wayne Enterprises, LLC purchased a 21,112 s/f retail and office investment property from seller Stone Coast Properties, LLC at 622-624 Congress St. Current tenants in the building include the United States Postal Service and Mercy Hospital.
The transaction was arranged by Joe Porta, SIOR.
• PWM Properties, LLC purchased an 11,446 s/f aircraft hangar building at the Jetport from seller Neptune Properties, LLC. The property is located at 1123 Westbrook St. in Portland.
Tony McDonald, CCIM, SIOR, arranged the transaction.
• CEVA Logistics signed a lease for 47,000 s/f of industrial space with landlord Gendron & Gendron, Inc. at 55 Logistics Dr. in Auburn.
The transaction was arranged by Craig Young, CCIM and Chris Paszyc, CCIM, SIOR.
• Gorrill Palmer, an integrated land development, transportation and municipal engineering firm has been providing quality professional services to clients throughout New England since 1998. They will be relocating from their Gray offices to a 4,556 s/f office at 707 Sable Oaks Dr. in South Portland later this year.
Craig Young, CCIM, represented the landlord, Second Portland Limited Partnership, in the transaction.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.