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Greater Portland office market - 2024 snapshot - by Sam LeGeyt
April 25, 2025
The Greater Portland office market remained relatively stable in 2024 compared to 2023 in terms of deal volume, total square footage leased, and overall vacancy. However, the market continues to trend downward compared to pre-pandemic levels. Since 2018, deal volume has declined by 30%, square footage leased is down 23%, and
Wickey of SCRE represents Barry’s Bootcamp LLC in 4,373 s/f lease
April 25, 2025
Darien, CT Penny Wickey of Saugatuck Commercial Real Estate (SCRE) exclusively represented Barry’s Bootcamp LLC with their first Connecticut lease at The Corbin District for 4,373 s/f at 20 Corbin Dr., Building B. David Genovese, principal of Baywater Management LLC is the developer.
Sweeney Real Estate & Appraisal leases 5,000 s/f hotel lobby to Pat’s Italian Restaurant
April 25, 2025
Warwick, RI Christina Rouse of Sweeney Real Estate & Appraisal represented the owners of 1850 Post Rd. in leasing a 5,000 s/f retail space, formerly a hotel lobby. The property, a former Wyndham hotel, was purchased by GoodHomes at the end of 2023.
JLL facilitates recapitalization of Legacy Place
April 25, 2025
Dedham, MA JLL’s Capital Markets group has arranged the recapitalization of Legacy Place, the dominant open-air, grocery-anchored lifestyle center in New England. Legacy Place is located in an affluent suburb of Boston. JLL represented the seller, Nuveen Real Estate.
Retail / tariffs / uncertainty and (still) opportunity - Carol Todreas
April 25, 2025
As new tariffs continue to impact the global economy, retail businesses and investors are grappling with heightened uncertainty. From new high tariffs to supply chain issues to evolving consumer behaviors, continual changes are making it as or more challenging than the pandemic years. Yet, amidst this turbulence,
Cisco Brewers Seaport
opens for the season
April 25, 2025
Boston, MA Boston Seaport by WS and Cisco Brewers Seaport is returning as one of Boston’s favorite waterfront beer gardens for its eighth season. Cisco opened on Friday, April 18, 2025, bringing the island vibes of Nantucket back to the city
Reveler Development and Porta & Co.
to bring Aomori to The Armature
April 25, 2025
Portland, ME Reveler Development, a real estate investment, development, construction and management company, and their commercial broker, Porta & Company, are welcoming the upcoming arrival of Aomori and Aomori Kitchen + Market at The Armature (52 Hanover St.) in West Bayside.
MassDevelopment awards $779,397 to
small businesses through Biz-M-Power
April 25, 2025
Boston, MA MassDevelopment’s Growth Capital Division provided $779,397 in grants from the Biz-M-Power Grant Program to help 62 small businesses in Massachusetts strengthen and grow. Ranging from $2,500-$20,000, the grants will empower businesses to (1) acquire, expand, improve, or lease
John B. Cruz Construction selected
for build of Vicente’s Supermarket
April 25, 2025
Roxbury, MA With Cruz Companies, John B. Cruz Construction has been selected to transform a former chain pharmacy into a neighborhood supermarket. The project brings together two Cape Verdean-owned companies and leading minority business enterprises to add
Horvath & Tremblay brokers $4.7m sale of 100%-leased retail center
April 25, 2025
Providence, RI Matt Nadler, Aaron Huntley, Bob Horvath, and Jack Laurendeau of Horvath & Tremblay have completed the sale of a retail center. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4.7 million.
Malone Commercial Brokers sells
retail condo. space for $597,000
April 25, 2025
Portland, ME Malone Commercial Brokers have completed the sale of a 1,690 s/f retail condominium at 383 Commercial St. The property was sold by DPD Lot 3 LLC to 383 Commercial Street, LLC for $597,000. Joe Malone and Jennifer Small of Malone Commercial Brokers represented the seller,
TINA Stephens opens first Massachusetts location at Mashpee Commons
April 25, 2025
Mashpee, MA Mashpee Commons, a retail, dining, and entertainment destination, has opened TINA Stephens, a women’s apparel boutique known for its travel-friendly, elevated lifestyle fashion. Located at 41 Steeple St., this marks the first Massachusetts boutique for the TINA Stephens brand, joining its 15 other stores located in other vacation destinations, including Florida, California, Colorado and the Carolinas.
Vernet Properties and Verani Realty’s 250,000 s/f
Belknap Marketplace reaches 90% leased
April 25, 2025
Belmont, NH Vernet Properties and Andy Levy, retail manager at Verani Realty, have leased 90% of the 250,000 s/f Belknap Marketplace on Rt. 3. Anchored by Shaw’s Supermarket, Belknap Marketplace has a variety of businesses, restaurants, and entertainment venues.
Adjusting to market condition adjustments - by Bill Pastuszek
April 25, 2025
Appraisal deals with the dynamism of markets. The principle of change is a fundamental appraisal concept. Appraisers operate in markets that are constantly shifting, often in very nuanced ways. Appraisers are careful, in general, to not adopt sledgehammer approaches to their work but, in doing so, often don’t take advantage of many resources and techniques that are more
Commercial tenant improvements: Key considerations for lease negotiations - Laura Kaplan
April 25, 2025
A significant inducement in many new leases and lease renewals is landlord funding and/or constructing improvements that customize the leased premises to the needs of the tenant’s business. The allocation of cost for these improvements is a fundamental economic term of the lease/renewal that affects the base rent per square foot
Region Commercial completes sale of
the King Auto Body building for $500,000
April 25, 2025
Northampton, MA Region Commercial is pleased to announce the recent sale of 141 King St. - The King Auto Body building - an 8,000 s/f automotive property. The property was sold for $500,000 between King Auto Body, Inc. (seller) and Powder 8, LLC (buyer).
Hunneman assists in achieving 96%
occupancy at the New England Business Center
April 25, 2025
Andover, MA Hunneman has helped to achieve an occupancy of 96% at the New England Business Center (NEBC), following the completion of nine leases brokered on behalf of landlord Andover MCB, LLC and its property manager, Eastport Real Estate Services, a leading property management and consulting firm. Signed over the course of the last 18 months, the nine new leases represent a combined 40,420 s/f.
The building blocks of success: Griffin
Electric hosts 2025 Apprentice Competition
April 25, 2025
Holliston, MA At a time when attracting and training new talent to the skilled trades may be more important than ever for the construction industry to meet future demands, Wayne J. Griffin Electric, Inc. (Griffin Electric) has continued to heavily invest in apprenticeship. A leading electrical subcontractor throughout New England and the Southeast for nearly five decades, Griffin Electric recognizes that apprenticeship has not only been a cornerstone
It’s just math – Multifamily in Greater Boston and the Mary Ellen McCormack project - Laureen ...
April 25, 2025
This long-awaited, mixed-income revitalization project recently broke ground and includes the historic redevelopment of one of Boston’s oldest public housing complexes. Built in 1938 during the Depression, Mary Ellen McCormack’s infrastructure is overdue for replacement. WinnCompanies announced they have partnered with the city of Boston, Boston Housing Authority,
DJSA Architecture PC hires Feliciano and Brien
April 25, 2025
Raynham, MA DJSA Architecture PC, a full-service architectural firm specializing in commercial and corporate design, has hired Alex Feliciano as an assistant project manager and Michael Brien as an architectural drafter.