Maine Food A to Z: Our annual roundup in 2021
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Portland area commercial brokers reflect on a challenging year
Retail and office space vacancies in greater Portland went up in 2020, but the industrial space sector remained strong, brokers say.
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Commercial Street saw “quite a bit of activity” on the real estate front despite the pandemic, according to Malone Commercial Brokers.
Michael Kelley / The Forecaster
PORTLAND The greater Portland commercial real estate market has taken a hit from the pandemic, with retail space and office space taking the biggest blows, according to new reports.
Retail vacancy rates in Portland, South Portland, Scarborough, Cape Elizabeth, Westbrook and Falmouth rose from 3.13% in 2019 to 4.04% in 2020 and could rise higher this year, according to a Malone Commercial Brokers analysis.