Maine Mall retail space nearly full
August 9, 2012 in Articles
Publication: MaineBiz
The Maine Mall is closing in on 100% occupancy with the addition of new tenants J. Crew and Lush Handmade Cosmetics this month. The South Portland shopping mall has more than 1 million square feet of retail space and will be fully occupied once temporary retailers open for the holiday season, the Portland Press Herald reported.
Craig Gorris, the mall's manager, told the newspaper the two retailers will occupy a total of 6,000 square feet and will have a positive impact on sales and merchandising.
Nationally, the average vacancy rate for regional shopping malls in the United States was 8.9% in the second quarter of this year, according to the real estate research firm Reis Inc. That compares with an 11-year high of 9.4% in the third quarter of 2011 and a low of 4.9% in the second quarter of 2001, according to Reis.
Commercial RE in Maine for the first half of 2012 has continued to slowly but steadily improve
July 27, 2012 in Articles
Author: Karen Rich
Publication: NEREJ
At the beginning of 2012, it was predicted that we would continue to see a fairly flat market in the downtown and suburban office market and that has proven somewhat true throughout the first 7 months of this year. We are experiencing some movement from office tenants, large and small, that have previously been in Class B and C spaces as they look to improve their positioning by gravitating to some of the vacant Class A spaces. Several large Portland area office tenants relocated to newer redeveloped waterfront spaces within the past year; creating some rather large vacancies that are very attractive to office tenants who are moving into and benefitting from aggressive landlords looking to fill their buildings. Downtown office space is leasing typical in the $12-$14 per s/f modified gross range with some of the higher end buildings able to achieve numbers greater than that.
Retail Landlords Sigh in Relief as Leasing Activity Gains Momentum
July 9, 2012 in Articles
Author: Elaine Misonzhnik
Publication: Retail Traffic Magazine
Reprint of article by Elaine Misonzhnik, Senior Associate Editor for Retail Traffic Magazine, May 21, 2012.
After several years of concentrating on portfolio consolidation, retailers are coming back to the negotiating table ready to talk new deals, according to leasing brokers, property managers and landlords. What’s more, growth is coming from a variety of sectors, including dining, specialty apparel and department stores, which means that the recovery that up till now has been occurring on a selective basis is starting to become market-wide.
Market Highlight: Maine Retail
May 16, 2012 in Articles
Author: Matthew Cardente
Publication: Northeast Real Estate Business
The Southern Maine retail market is rebounding. According to Malone Commercial Broker’s retail survey, Greater Portland’s vacancy rate was at a 10-year high of 10.8 percent in 2009 but dropped down to 6.24 percent in 2011. We are seeing absorption of some empty big boxes, and new retailers are entering Maine’s marketplace.
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Poll: Mainers feel better about economy
February 2, 2012 in Articles
Author: Associated Press
Publication: Portland Press Herald
PORTLAND — A new poll shows Mainers are feeling better about the economy.
The poll released today by Market Decisions of Portland says Maine consumers turned optimistic about the economy in January, with consumer sentiment rising 12 percent from the previous quarter.
