Commercial Real Estate Remains Highest Rated Investment Alternative

August 30, 2012 in Articles

Author: Olivia Baeza Gellman
Publication: CCIM
Press Release
Posted August 30th 2012

Despite declining economic conditions, sector provides long-term stability, according to CCIM and RERC data.

Despite the declining economy and investment environment, CCIM members report that investors continue to seek apartments, medical office buildings, land, and agricultural properties, according to CCIM Institute and Real Estate Research Corp.’s 3Q12 RERC/CCIM Investment Trends Quarterly. CCIMs also reported upticks in retail and office activity in isolated regions.

Cool Benefits of Solar-Reflective Surfaces for Shopping-Center Owners and Society Energy‐Efficient Pavement Creates Savings and Customer Appeal

August 16, 2012 in Articles

Author: Sheri Roese
Publication: ICSC - RETAIL PROPERTY INSIGHTS VOL. 19 November 2, 2012
This article by Sheri Roese discusses the "cool pavements" and they can positively affect shopping centers in times where temperatures are rising. Click the link to read the article.
Read the PDF

CIvic Center groundbreaking next week

August 16, 2012 in Articles

Author: Staff
Publication: Portland Press Herald

Civic Center groundbreaking next week

From staff reports


PORTLAND – The ceremonial groundbreaking for the renovation of the Cumberland County Civic Center will be held next Wednesday, Aug. 22 at 11 a.m.


click image to enlarge

An artist rendering of the exterior of the Cumberland County Civic Center, which is expected to undergo a $33 million renovation beginning in August.


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.

Former Press Herald building eyed as boutique hotel

August 3, 2012 in News

Author: MaineBiz


Two developers have signed a purchase-and-sale agreement to buy the former Portland Press Herald Building at 390 Congress St. The building is near the historic Old Port District and across the street from City Hall.

Jim Brady, former president of the Olympia Cos., and Kevin Bunker, a downtown redevelopment advocate and developer, plan to convert the now-gutted building into a 100-room boutique hotel with a first-floor restaurant, according toPortland Press Herald. The two are buying the building from John Cacoulidis, president of Grand Metro Builders of New York Corp., who purchased it and the newspaper's printing plant for $6.2 million in 2009 from parent company MaineToday Media Inc., and initially had planned to renovate the building into office space.

The developers said they plan to begin construction in the spring of 2013 and be open for business a year later, the newspaper reported.

Brady told the newspaper that the Portland market is strong, and that there will be adequate demand for a new boutique hotel – notwithstanding the proposed $105 million hotel, restaurant and event center on Thompson's Point approved by the planning board in June.




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