"Building & real estate" special section piece on moves by Banknorth, Core Inc.,

Alan Elliott

Source

Mainebiz

Date

10-13-2003

Pages

34-37

Abstract

"Building & real estate" special section piece on moves by Banknorth, Core Inc., and other firms from downtown Portland to the suburbs, and commercial vacancy rates that have gone from less than 2 percent to nearly 8 percent in the past two years. The Portland-based Maine Commercial Association of Realtors is calling on the city to counter the effect. Realtor Greg Boulos says vacancies in Class A office space remain below 1 percent and he sees no impending exodus. Projects such as the new Hilton Garden Inn and the fully leased new AAA building are encouraging. The downtown is beginning to expand east along the waterfront across the Franklin Arterial. The realtors' group wants the city to streamline its planning and permitting processes, although Banknorth and Core moved for reasons having to do with space needs and parking. With a list of the Commercial Realtors' group grievances with the city and suggestions for change.

Subjects

Maine Commercial Association of Realtors, Real estate business

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