W W W. M A I N E B I Z . B I Z 11 F E B R UA R Y 8 , 2 0 2 1
F O C U S C O M M E R C I A L D E V E LO P M E N T
hile many workers who once
populated offices are working
remotely, much of the southern Maine
office market was running near capacity
before the pandemic hit. Even through
the end of 2020, the vacancy rate had
not reached levels seen after the reces-
sion of 2008-09, according to the most
recent MEREDA conference.
F O C U S S TA R T S O N F O L L OW I N G PA G E
ยป
W
S O U R C E : Nate Stevens, Boulos Co.
SOUTHERN MAINE OFFICE MARKET VACANCY RATES
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
1.67% 3.59% 3.04% 4.48% 4.81% 5.04% 4.39% 4.47% 8.24% 8.20% 10.07% 9.73% 10.07% 8.14% 7.64% 7.25% 6.17% 4.41% 3.94% 6.34% 6.97%
The market includes:
Portland, South Portland,
Scarborough, Westbrook,
Falmouth, Cumberland,
Yarmouth
Number of buildings:
352
Total square footage:
12,278,887
