New Hampshire Department of Resources and Economic Development commissioner, George Bald, and commercial real estate industry experts agree that space in the Portwalk development will be highly sought after.
Cushman & Wakefield is the project's office leasing agent.
Portwalk is expected to generate more than 800 permanent, professional jobs and more than $1.6 million in total annual tax revenue.
President of the Commercial Brokers Association of Boston and the New England chapter of the SIOR, Mark Stevens said, "These types of lifestyle communities are generally built in the suburbs, however, Portwalk is at the epicenter of Portsmouth's downtown seaport community, an extremely uncommon location for such a development."
Cushman & Wakefield's executive director in N.H., Tom Farrelly, said, "Portwalk is a rare gem that offers all the amenities without all the parking hassles - plus a modern 'green' office environment."
Portwalk is being developed by Cathartes Private Investments. The development is a pedestrian-friendly, integrated, urban center featuring office space, boutique shops, cafes and restaurants, residences, an extended-stay hotel, and underground parking.
Portwalk will include four buildings of mixed uses over an underground parking garage. 175,000 s/f of office space will also be available, including medical office space, on floors 2 through 4.
Construction is scheduled to begin in 2008.
Cathartes principal, Jeff Johnston said" We're proud that Portwalk will be the first LEED-certified mixed-use development in Portsmouth."