Three new developments in the Maine Mall area suggest that retail sales have returned to levels that satisfy feasibility.

Karen Rich of Cardente Real Estate suggests that these projects have a common element that leads to their success: location, location, location.

Vincent Maietta’s newest development at 85 Western Ave. will offer a variety of suite sizes to users seeking a high-profile location.

Similarly, Boulos Commercial Brokers has successfully redeveloped and leased the former Tweeter building to Eyemart and Vitamin Shoppe. Construction is expected to be completed in late December, with a grand opening to follow. For both of these tenants seeking an identity in the Maine market, location was again a prerequisite.

The other notable entry into the market is the planned development adjacent to the Wyndham Towers. The scheme includes four pad sites for retail and restaurant use with direct exposure to Interstate 295.

Cracker Barrel, a national franchise restaurant chain, recently completed construction and planned to open this week.

Chipotle, a Mexican-themed restaurant that is popular nationwide, is well underway with construction and is expected to be open by year’s end, if not sooner. (Continued on PDF)

In a market that offers for sale very few investment properties, here is an aggressively-priced opportunity at $765,000. This fully-tenanted, 8,350- square-foot brick professional office building sits on a corner lot of almost one acre. This property is situated at a traffic light at the intersection of U.S. Route 302 and Pride Street in Westbrook. This site offers accessibility, visibility, high traffic count, excellent signage, and ample parking in both the upper and lower parking lots.

Cardente Real Estate is pleased to offer for lease 18 Exchange St. in Portland. This is a rare opportunity to lease a premier space on Lower Exchange Street. Emerson Books has been a tenant at this location for 14 years and is closing its doors for retirement. The space features 12-foot ceilings, large display windows, wood floors, a conveniently open floor plan, and great signage potential on an awning and in the windows. A perfect opportunity to move your business to the best location in the Old Port.

Cardente Real Estate is pleased to offer for lease the Hathaway Creative Center. This landmark property was fully renovated in 2009, complete with office, retail, and fully leased luxury apartments on the fourth and fifth floors. Major tenants include MaineGeneral Hospital, HealthReach Network, TD Insurance, Unique Designs and Maynard’s Chocolates. Remaining availability includes 1,000 to 10,000 square feet of retail/restaurant space at the first floor arcade mall, and 100-40,000 square feet of office space on the upper levels. Spaces, aggressively priced, can be provided turnkey. There are also potential Pine Tree Zone benefits. Ideal uses include all types of retail, restaurants, professional office, governmental offices, and medical.

When the retail market was really struggling in the first quarter of 2009, approximately 60,000 square feet of retail space was available for lease in Portland’s Old Port (the area from Franklin Street to Temple, and Middle Street to Commercial).

One year later, vacancies in the Old Port dropped by almost 20 percent to less than 48,000 square feet of available space. The good news has continued throughout the first half of 2010. Currently, there is less then 40,000 square feet available for lease in this area. And of that total, more than 25 percent comprises only one vacancy: the former Pavilion space at 188 Middle St.

Of note are the new restaurants that have opened since the start of 2009: Havana South, Pat’s Pizza, Shima, Joe’s New York Pizza, and Linda Bean’s Perfect Maine Lobster Roll. Walter’s moved to a location within the Old Port, and Siano’s Pizzeria, Sonny’s, Salt Exchange, and The Corner Room opened on its immediate periphery. Additionally, Canelli’s and G’Vanni’s are under construction and will be opening soon on Exchange Street. (Continued on PDF)