News: Northern New England
Posted: June 7, 2024
York County, Maine’s commercial real estate boom - by Brandon Mitchell
York County in Maine is experiencing a significant surge in commercial real estate development, with major projects underway across various sectors, including mixed-use, retail, multi-family, and industrial properties.
One of the most prominent developments is the Pepperell Mill, a 655,000 s/f mixed-use campus in Biddeford. This massive project has breathed new life into the historic mill complex, creating a hub for businesses and residents alike. Adjacent to the Pepperell Mill, the Pearl St. Parking Garage, is now complete, providing much-needed parking infrastructure to support the area’s growth.
Another noteworthy addition to Biddeford’s skyline is The Lincoln Hotel and Lofts, a 33-room boutique hotel and 148-residential development. Around the corner from The Lincoln lies The Levee. This campus-like redevelopment along the Saco River includes retail and residential components, and an on-site self-storage facility, further contributing to the city’s revitalization efforts.
Beyond Biddeford, other major projects are underway in the region. In Ogunquit, The Dunes on The Waterfront resort is under construction with completion scheduled this month, promises to be a premier destination for visitors. Meanwhile, in Saco, the Clover Leaf development is adding 120 new apartments to the housing market. Additionally, a 50,000 s/f industrial facility is in the works on 955 Portland Rd.
The region’s commercial real estate boom extends beyond construction sites, with several notable companies and businesses contributing to the economic landscape. Ready Seafood, Hancock Lumber, Pack Edge, Colliers Engineering, Brickyard Hollow Brewing, Spurwink Medical, and Batson River Brewing are among the newer businesses driving growth and creating job opportunities in York County.
Looking ahead, the pipeline of projects in the planning stage promises to further transform the region’s commercial landscape. In Wells Beach, the Camp resort is in the works. Saco is also preparing for the Park North development, which will feature 84 apartments and 79 residential lots. Biddeford continues to thrive as well with the Pearl St. Riverfront District, which first phase will provide 160 apartments and additional commercial space for restaurants and supporting retail. The 1 Diamond development, a massive 500-unit apartment complex, is making its way through the planning phase, and Building 11 of the Pepperell Mill complex is slated for conversion into 76 apartments.
With such a robust lineup of developments, York County will become a thriving hub for commercial activity, offering a diverse range of opportunities for businesses, residents, and visitors alike. As the region continues to evolve, it will undoubtedly attract further investment and attention, solidifying its position as a prime destination for economic growth in Maine.
Brandon Mitchell is a broker with Malone Commercial Brokers, Portland, ME.
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