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Real estate conference: Portland’s retail spaces fill up, hotel industry surges
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A real estate analyst expects higher lease rates and new development in 2016. -
Hotels on the peninsula reported a 70 percent occupancy rate – well above the state and national averages.
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Brit Vitalius, president of the Southern Maine Landlord Association, expects demand to cool some in 2016.
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There's almost zero vacancy on Commercial, Fore and Exchange streets.
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More than 800 jobs have been created at the sprawling site since the Navy left in 2011.
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The index measures commercial, residential and construction activity.
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Demand for prime space and a shrinking vacancy rate have a real estate brokerage predicting new development efforts on the eve of an annual forecasting conference.
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