central maine market forecast - mereda
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PREPARED FOR
The Boulos CompanyThe Boulos Company
CENTRAL MAINE MARKET FORECASTChris Paszyc, CCIMJanuary 2014
2 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
PRESENTATION OVERVIEW
2013 in Review Significant Transactions
and New Developments Trends in Supply &
Demand
2014 Forecast Trends in Development What People “In The
Business” are Predicting for 2014 My Predictions for 2014
and beyond
Lewiston/Auburn, Midcoast Region and Greater Augusta
3 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
Investment Continues In DowntownLEWISTON/AUBURN
Text here
Dominican Block22,000± SF Historic Tax Credit Project
4 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
New Development – Argo Marketing on Lisbon StreetLEWISTON/AUBURN
Text hereBEFORE
AFTER
5 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
LEWISTON-AUBURN
• 350,000± SF• Slated for demolition• Saved from demo by
Grow L+A• Target industries include
a growing operation, food packaging, food/beverage processing and a co-op grocery business
Bates Mill #5 Redevelopment
6 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
New Development – Norway Savings Arena by Auburn MallLEWISTON/AUBURN
Text here $10.5 million project71,853± SF
1,940 person capacity
7 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
Office market steadyLEWISTON/AUBURN
19 Mollison Way, LewistonMcKesson renews lease
60,000± SF
8 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
Industrial demand steadyLEWISTON/AUBURN
Sazarak purchased Jim Beam(former White Rock Distilleries)
9 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
Retail Projects – New Construction, Investment SalesLEWISTON/AUBURN
10 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
LEWISTON-AUBURNRail Line Expansion
• $3.0 million project• 8,500± linear feet• 400± AC accessed
11 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
LEWISTON-AUBURNFuture Growth Areas – Exit 80
Gendron Business Park
12 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
LEWISTON-AUBURNFuture Growth Areas – Fairgrounds Business Park
24 Mollison Way, Lewiston
13 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
MIDCOAST REGION Brunswick Landing
14 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
MIDCOAST REGION Brunswick Landing
• 300± AC & 26 buildings sold
• 600,000± SF leased• 750 jobs created• 91,180± SF TechPlace
created• Renewable energy
power plant to be built
15 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
MIDCOAST REGIONBrunswick Landing/Cook’s Corner/Topsham Commerce Park
Providence School
16 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
MIDCOAST REGIONFuture Growth Areas – Brunswick Landing
Brunswick Landing54 Orion Street
17 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
WATERVILLE/FAIRFIELD REGION – FUTURE GROWTH AREAS
Hathaway Center Foreign Trade Zone #186 Senior Housing
Medical Office is a Driving Force
18 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA
Gardiner Growth Initiative Libby Hill Business Park
Gardiner
19 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA
Former State of Maine Offices442 Civic Center Drive
Sold for $2.1 Million
Deal Of The Year
20 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA2013 marked the opening of the Alfond Center for Health
21 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTAFormer hospital rebranded “Augusta East”
22 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTAMany opportunities still exist for large office users
Former State of Maine Offices26 Edison Drive
Former State of Maine Offices26 Edison Drive
23 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTACentral Maine Commerce Center a primary growth area
24 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTAAugusta Joins Main Street Maine Program in 2013
• Augusta Downtown Alliance hires first executive director
• Renewed focus on downtown district
• New upscale residential apartments and condos
• Reducing Water Street vacancy rates is a priority
25 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREAS
• Major Augusta Businesses and Government Offices Connected Early 2014
• Hallowell, Farmingdale, Gardiner Business Districts Served Early 2014
• Residential Neighborhoods Connected 2014 - 2020
Introduction of Natural Gas to Kennebec Valley Region
26 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASAmerican Tissue Redevelopment Site
27 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASAmerican Tissue Master Plan
Text here
28 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASAmerican Tissue Office Building and Restaurant
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29 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASAmerican Tissue Market and Train Station
Text here
30 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASCapitol Street Former MDOT Redevelopment Site
• 9.0± AC Site• Former
Maintenance Facility• On State
Government Campus
31 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASCapitol Street Former MDOT Redevelopment Site
32 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
GREATER AUGUSTA – FUTURE GROWTH AREASCapitol Street Former MDOT Redevelopment Site
33 CBRE | CLIENT NAME | PRESENTATION TITLEThe Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
THANK YOU
George Dycio, Lewiston-Auburn Economic Growth CouncilLincoln Jeffers, City of LewistonBob Rocheleau, Ben Sturtevant, Steve Levesque, Mid-Coast Regional Redevelopment AuthorityKeith Luke, City of AugustaKevin Mattson, Dirigo Capital PartnersGary Peachey, Peachey BuildersBob Gordon & Gerry McSweeney, CityNorth DevelopmentJ. Hilary Rockett, Jr., JHR Development
Many people generously contributed to this presentation:David Graham, Graham ArchitectsDarryl Sterling, Central Maine Growth CouncilNate Rudy, City of GardinerJim Howard & CJ Dirago, The Priority GroupDavid Gendron, Gendron & GendronJamie LeBlanc & Roger Beaulieu, DeJour RealtyTony Armstrong, Baldacci Real Estate GroupMac Simpson, Hunt Real Estate CompanyKevin Fletcher, The Masiello GroupMichelle Peacock, CBRE | The Boulos Company
34 CBRE | CLIENT NAME | PRESENTATION TITLE
PROFESSIONAL PROFILE
T +1 207 772 1333M +1 207 939 4147cpaszyc@boulos.com
Chris Paszyc, CCIMBroker, Partner
Chris Paszyc joined CBRE|The Boulos Company in 2005. Mr. Paszyc has extensive knowledge of the Maine commercial real estate market and business community, along with a strong track record in business, governmental affairs, and real estate. His areas of expertise include investment sales, disposition of distressed assets, tenant/buyer representation and development site location.
Mr. Paszyc holds the prestigious CCIM designation. This designation is attained by fewer than 6% of the commercial real estate professionals in the country. The CCIM designation is awarded to commercial real estate professionals upon successful completion of an advanced analytical curriculum and presentation of a portfolio of qualifying industry experience. The curriculum addresses financial analysis, market analysis, user decision analysis and investment analysis – the cornerstones of commercial investment real estate. CCIMs are recognized experts in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis.
CREDENTIALSMaine Real Estate Broker LicenseMaine Commercial Association of RealtorsCertified Commercial Investment Member (CCIM)Member of the International Council of Shopping Centers
EDUCATIONUniversity of Maine, Master of Public Administration 2002University of Maine, Bachelor of Arts, Public Administration 1997
The Boulos CompanyThe Boulos Company Central Maine Market MEREDA Forecast Conference 2014
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