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V O L . X X I I I N O. V I I A P R I L 3 , 2 0 1 7 18 F O C U S R E A L E S TAT E / C O N S T R U C T I O N / D E S I G N CONTACT US TODAY FOR A FREE ESTIMATE connectivitypoint.com 866-782-0200 Reduce distractions. Increase productivity. Protect privacy. Sound masking systems provide continuous, consistent background sound designed to reduce distractions. Small emitters installed in or above the ceiling produce low-level ambient noise that sounds like air fl owing. Call centers, healthcare facilities, and open concept spaces, can all benefi t from a sound masking system. Sound masking can also be integrated with existing phones to act as a paging system. NETWORK CABLING | AUDIO/VISUAL | SOUND MASKING | SECURITY | TELEPHONE | WIRELESS | CELL BOOSTERS T he Portland market continues to outpace the rest of the state when it comes to real estate development and construction. Hundreds of units of multi- family complexes and condominiums have been built or are under construction. The trend is particularly evident on Portland's East End, especially around the India Street corridor. With the construction is retail development and the occasional hotel. On a large scale, a 500,000-square-foot retail project has been approved in Westbrook. Elsewhere in the state, there are pockets of growth in Augusta, Gardiner, Waterville and Lewiston. S TA R T I N G O N F O L L OW I N G PA G E » SEVERAL MARKETS SURGING MAINE CONSTRUCTION EMPLOYMENT T CBRE|The Boulos Co. offers the following overview of several market sectors: ¡ Offi ce: Portland has seen increased demand and falling Class A vacancy rates spurred by the groundbreaking of a 55,000-square-foot building at 16 Middle St., the fi rst signifi cant downtown construction in a decade. North of Portland, in Yarmouth, Tyler Technologies is added 94,500 square feet to its existing site and, a mile away, Patriot Insurance is building its new 34,500-square-foot headquarters. ¡ Industrial: E-commerce sales will continue to increase and create demand for large warehouse space. There is also demand for multi-tenant industrial buildings. Industrial space is being used in new and different ways. Breweries, distilleries, coffee roasters, retail businesses and marijuana growers are competing with manufacturers for warehouse space. ¡ Multi-Family: In Portland, nearly 700 new rental units were being added to the downtown market in 2016 and 2017, a 4% increase in renter-occupied multi-family units. ¡ Retail: Retail development continues to grow, but away from big-box stores. Only one large-scale retail development, 89,000 square feet, was completed in 2016. The trend of smaller developments include a 13,189-square-foot strip center Century Plaza on Marginal Way in Portland; 18,000 square feet of Shops at Biddeford; and an 8,605-square-foot strip center at Krispy Kreme plaza, currently under construction on Center Street in Auburn. NOTABLE MAINE-BASED CONSTRUCTION PROJECTS 1 Company Project name and location Estimated value of project 1 Reed & Reed Inc. www.reed-reed.com Bingham Wind Project $100 mil. 2 The Cianbro Cos. www.cianbro.com Saint Croix Tissue, Black Bear Tissue Project, Baileyville $65 mil. 3 Reed & Reed Inc. www.reed-reed.com Hancock Wind Project, Aurora $45 mil. 4 Crooker Construction LLC www.crooker.com Highlands Retirement Community, Topsham $35 mil. 5 Consigli Construction Co. Inc. www.consigli.com Bates College, campus housing, Lewiston $31 mil. 1 All projects were completed in 2016. S O U R C E : Each fi rm via survey S O U R C E : Associated General Contractors of America FEB. 2016 TO FEB. 2017 GAIN: 1,700 jobs (6.2%) / U.S. rank: 13 BIDDEFORD MILL DISTRICT BUILD-OUT S O U R C E : City of Biddeford Private investment to date: $54.4M Upcoming private investment: $77.5M storage 29% vacant (51% vacant in 2014) Distribution of 1,608,540 total square feet: 31% residential 17% commercial 9% offi ce 7% 7% light mfg. 400 new jobs in the mill district since 2008 250 new residential units 230 residential units planned (not yet under construction) 25K 26K 27K 28K 29K 30K 02/17 01/17 12/16 02/16 27,600 28,100 28,400 29,300 JANUARY TO FEBRUARY GAIN: 900 jobs (3.2%) / U.S. rank: 10

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