Location Characteristics:
The commercial water transportation industry in Portland plays an important role in the city's economy, with the Port of Portland is the second-largest tonnage seaport in New England. Portland is also accessible from I-95 (the Maine Turnpike), I-295, and US 1. U.S. Route 302, a major travel route, along with Portland International Jetport within two miles west of downtown Portland.
Market Insight: Out-of-state investment in the Portland industrial market continues to grow, as lease rates trend closer to double digits and vacancy rates continue to live below 2%. Thus, fueling the construction of spec buildings, and executed build-to-suit lease transactions.
