MaineJobs Spotlight: Commercial Broker

June 3, 2010 in Articles

Author: Matthew Cardente
Publication: Portland Press Herald

 

How did you get started?

As an intern for The Boulos Company, in 2000. My father and grandfather have been developers in Maine for more than 50 years and were my mentors when I started. In 2005, I founded Cardente Real Estate. We now have six commercial brokers and represent all aspects of the sale and leasing of commercial real estate in Maine. Last year my brother Michael and I started Cardente Property Management, and now manage almost 250,000 square feet. Michael was also with me from the beginning of CRE.

What skills are essential to your job?

You must know your market and understand your clientele’s needs,  especially in this soft economy. Investment transactions require specialized skills in mathematics and financing. Other skills include negotiation strategies, understanding real estate documentation, and being able to cold call. However, if you are not a people person and are unwilling to listen, you won’t make it. You must always put your client first.
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Riding out the economic storm in Maine

May 28, 2010 in Articles

Author: Greg Perry
Publication: New England Real Estate Journal

Maine was certainly not immune from the well documented market collapse. All major sectors of the commercial real estate industry were affected. The retail vacancy rate in Greater Portland rose from a modest 6.05 to 10.8%*. The office market, especially in suburban areas, saw significant increases in vacancy as companies began to layoff employees and downsize.

The industrial sector experienced a slashing of lease rates as Landlords fought to retain tenants and attract the few prospective tenants that were available. Overall, the downturn certainly represented the worst collapse for the Maine commercial real estate market since September 11, 2001. (Continued on PDF)

 

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Featured Property: 400 Riverside Street, Portland

May 16, 2010 in Articles

Author: Nathan DeLois
Publication: Portland Press Herald/Maine Sunday Telegram

 

This property comprises three buildings that offer the least expensive office options in Portland. Building C is a 6,400-square-foot, free-standing building available in its entirety for $2.50 per square foot Modified Gross. Unit A-2 in Building A consists of 4,950 square feet of high-quality office space, available for $5.50 per square foot Modified Gross. Both deals are available for tenants who sign five-year deals with annual increases. The property includes on-site free parking and is convenient to I-95 and all locations in Greater Portland. Additionally, smaller office units between 1,500 and 2,200 square feet are available at very competitive rates.

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At Maine Mall, Bustle Loses Steam

March 20, 2009 in News

Author: Beth Quimby
Publication: Portland Press Herald

The Maine Mall bustles with shoppers on a late-winter weekend, but on a midweek morning, the scene is quiet.

Done with their daily walk, the silver-haired set fills some of the tables at the food court. Mall workers unobtrusively water plants and sweep debris from the corners, but shoppers are largely absent. This is the time of day, when many people are at their workplaces, that the economic recession’s toll on the retail sector becomes apparent.

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Projecting properties: MEREDA's annual forecast conference steels real estate professionals for a rough 2009

February 9, 2009 in News

Author: Mindy Favreau
Publication: MaineBiz

It’s going to get worse before it gets better. That phrase wasn’t what attendees wanted to hear, but that was the take-away message at the Maine Real Estate and Development Association’s 2009 Annual Real Estate Forecast Conference, held Jan. 29 at the Holiday Inn by the Bay in Portland. Presenters from all of Maine’s real estate sectors — office, industrial, residential and hospitality — provided, with varying degrees of grimness, a 2008 year-in-review and predicted an even tougher year in 2009. Maine’s retail market was no exception. The state, like the nation, is suffering from what industry experts are calling the market ’s worst contraction in 35 years, as national retailers like Circuit City and Linens ‘n Things go out of business. The sour market has also put the brakes on retail development in the state, including the planned $8 million expansion of the Maine Mall, which owners General Growth Properties recently decided to postpone indefinitely becaus e of the weak economy — the second planned expansion the Chicago firm has scrapped in Maine since 2008. (Continued on PDF)

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