Portland, Maine Office Vacancies at New High

Drew Sigfridson is a property broker with The Boulos Company, which has just released a survey on the office market in Maine’s biggest city. He says there’s now almost 1.3 million square feet of desk and cube space sitting empty–that’s 11.2 percent of all available space.

“Essentially what we saw in 2008, 2009, 2010, was consolidation of companies, relocating and downsizing. We saw some companies going out of business, and we just saw an overall contraction in the market. You know last year we thought that we were at the bottom. This year, I think we really are at the bottom.”

Tom Porter: “So what gives you the confidence that we won’t be here this time next year saying ‘No I really mean it this time?'”

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