In early February of 2020, I wrote an article stating that “While several sectors may see a slight uptick in va- cancy rates, the leasing market should remain competitive... through year end 2020.” Several months later, the world found itself in the midst of a pandemic and my forecast was wrong. No one could have predicted the global health crisis that would follow for the next 1 1⁄2 years. However, even during the complete shutdown, there remained demand for commercial real
estate in the Southern Maine market; it just depended on the type of use. In the spring of 2020, Federal Express executed a long-term lease for their 34,000 s/f distribution facility in Portland. Without distribution, people staying at home wouldn’t receive packages. Manufacturing facilities required commercial space for pro- duction. Those grocery and full-ser- vice retailers that remained open, still needed a physical structure to house and sell their product. Hospitals, pharmacies, banks, post offices, and many other types of uses, all needed a commercial footprint even during the pandemic.
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Cardente Real Estate is pleased to offer for sale / ground lease this premier property located just off I-295 on the corner of Franklin Arterial, Fox Street, and North Boyd Street. Consisting of two contiguous lots totaling 1.03 +/- acres, 129-139 Fox Street offers a level site that is ideal for redevelopment plus, a 6,112 +/- square foot flex / office building with ample onsite parking. One of the last development sites on the Peninsula, amenities include unbeatable accessibility (seconds from I-295 & Marginal Way), highly visible signage, and mainstream exposure on some of the busiest streets in Portland. This is an ideal location for all types of users looking for one of the most signature locations Portland has to offer. For further information, please click below for brochure.
https://www.edwardjones.com/us-en/financial-advisor/amanda-stetson