Portland, ME Joe Porta SIOR, Vince Ciampi, and Peter Gwilym of Porta and Co. represented all parties for a master lease at 511 Congress St. and 48 Brown St.
511 Congress St. contains 126,000 s/f of office and retail space and 48 Brown St. is a 256-car parking garage.
The owner is Ocean Gate, LLC.
The tenant is 511 Congress Street, LLC.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.