It is a known fact that the golden rule of real estate is location, location, location, and no other sector follows this rule more closely than retail. Retail development in any market is dependent on direct access from major roadways and the ability to provide consumers with easy access and convenience.
The retail market in Maine is no exception. Due to its location along key turnpikes and highway exits, the majority of Maine’s retail development is occurring in the southern and central parts of the state. Two municipalities in southern Maine, Falmouth and South Portland, are experiencing significant development because they offer direct access to Interstate 295 and the state’s turnpike. Although Maine tends to be the last state in northern New England to get the latest national retailers, the retail market has remained strong with new development opportunities ranging from big-box regional shopping centers to multi-tenanted retail buildings that target smaller retailers between 1,000 to 3,000 square feet. (Continued on PDF)