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Another strong year in commercial real estate predicted for 2020

February 11, 2020 / Portland Press Herald
SHARESHARESHARE

With a wave of new construction of office, condominium and hotel projects on the Portland peninsula and large mixed use projects planned at Rock Row in Westbrook and The Downs in Scarborough, the Boulos Company expects 2020 to be another active year in the greater Portland real estate market. While history tells us that this real estate cycle should be coming to an end, we expect 2020 to be another strong year,” Boulos Company Managing Director Drew Sigfridson wrote in the company’s 2020 Greater Portland Outlook, a 32-page document that looks at market trends, vacancy rates, areas of economic opportunity and other items related to the area’s commercial real estate scene. The commercial real estate company has authored the Greater Portland Outlook since 2014 and it “continues to be the most comprehensive report produced on Maine’s commercial real estate market,” Marketing Manager Abigail Henderson said.