An Imperfect Market
Do "Green" Buildings Bring Greener Pastures? by David Caron
So what is all this talk about "Green" buildings and do they actually make a difference?
With the world becoming more environmentally conscience the going "Green" movement has crept into the Real Estate markets also. Although the concept is slow to move into some markets, including ours here locally, the process is gaining momentum and there are over 14,000 projects in the U.S. and 30 other countries that have been certified.
Let's take a look at what "Green" means.
Green building is using construction processes and materials (either for new construction or renovations) that are environmentally responsible. This means using materials that can be recycled, selecting sites that may benefit environmentally from there location, cutting down on water and energy consumption, lowering the overall carbon footprint and many other categories.
How do we know if a building is truly "Green"?
The U.S. Green Building Council (USGBC) has set design standards that have to be met. The Leadership in Energy and Environmental Design or LEED, as it is referred to, sets guidelines that buildings have to meet and then they are graded on a point system for each category. The more points that a building gets the higher level of Leed certification that it receives.
So why wouldn't every one want to build like this?
Some of the disadvantages are the initial cost. To build this way is greater than the regular building process and a lot of builders are still trying to get educated to the process. However, once a project is completed there is data that shows operating the building could cost less and offset the costs of construction. In addition, Tenants will typically pay higher rents due to energy savings, better work environment, etc, so that increases the value of the building.
We expect this process to become more popular and more of these types of buildings to be built. As that happens we can better look at what these truly do for market rents, value and overall impact on the market.
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Mulkerin Associates Real Estate Relocates to Old Port
Mulkerin Associates Real Estate specializes in listing and selling new homes, waterfront properties, land and residential properties including condominiums, multi-family properties and commercial properties. The company consists of 11 agents and 2 administrative assistants, serving clientele in Cumberland and northern York counties.
"After having been on Forest Avenue for the past 25 years, I couldn't be more thrilled to be in the hub of the Old Port District. Relocating can be hectic. Peter Harrington and Malone Commercial Brokers made the transaction as smooth as possible for us." -Amy Mulkerin, Owner
You can find them online and search their inventory of property listings at www.mulkerinrealestate.com.
Androscoggin Bank Opens First Portland Location
Androscoggin Bank opened the doors to their new Bank and Investment Center at 130 Middle Street on Monday night. The new branch is Androscoggin's first in Portland and looks more like a high tech computer store than a traditional bank branch with an open layout and free-standing customer service "pods".
In changing the design, they changed the way customers and staff interact by removing the barriers, cubicles, and desks. Standing at these "pods", bank representatives will be able to help you with most of your banking needs from cashing checks to opening accounts in a more informal setting.
Androscoggin Bank invested more than $500,000 in the 5,295 SF space that was formerly occupied by American Housing. They were able to take advantage of the abundance of office space currently available and found just the right location for their first Portland branch.
"We are very enthusiastic about the Bank and Investment Center in Portland. Our "dress rehearsal" was a great success. We have received a warm welcome in the market, and we are looking forward to many strong relationships in the future." Christine Conrad, SVP Marketing at Androscoggin Bank.
This new Portland location, at the corner of Pearl Street and Middle Street, is just one of over a dozen branches in southern and central Maine.
13,000+ SF of Office Space leases on Middle St
The Rackleff Block was designed by architect George M. Harding who worked in Portland from the late 1850s to the early 1870s. The building was completely gut rehabbed in 2003. The rehab included efficiencies and saving of wood wherever possible including a cold climate heat pump system reviewed by Environmental Building News and insulated roof, reflective metal vapor barrier in walls, T8 lighting to name a few.Aubuchon Hardware opens at Morrill's Corner
Aubuchon Hardware relocated their Portland store to 832 Stevens Ave.
Their new 10,000 SF store is a refreshing change for their employees and customers. The store is bright and open with plenty of parking and easy access.
According to the listing broker, Mark Malone, "Aubuchon is one of the few companies in 2009 to take advantage of deeply discounted lease rates by locking into a very long term lease on Stevens Avenue at the Morrill's Corner intersection. In doing so they have also demonstrated a solid commitment and continued confidence in the Portland community by more than doubling its size in the newly renovated 10,000 SF 'super-hardware store'."
Aubuchon Hardware is the oldest family owned and managed chain of hardware stores in America operating over 125 neighborhood hardware stores.
This new location allows Aubuchon Hardware to continue to strive to create a quick in and out shopping experience with knowledge and personalized customer service.
Freeport Restaurant Opening a Success
Siano's Pizzeria opened their second location on September 26th to a packed house.
The new 5,800 SF location at 140 Main Street in Freeport took several months to renovate for restaurant use and is a great addition to the local restaurant scene.
Siano's offers a casual relaxed atmosphere and family style dining with full menu. With multiple flat screen TV's, the bar area is great for watching your favorite sporting events.
The original location on the corner of Stevens Ave in Portland serves their specialties; brick oven pizza and pasta dishes, as does the new location. In addition, the new location in Freeport also has a wood fired grill.
Flue Gas Solutions Expands into Commons Ave Facility
FGS takes pride in servicing customers in the most timely, efficient and cost effective way possible. Moving from a 6,000 SF building into this new 16,000 SF facility is just one more effort to assure their customers continued quick turn-around response and delivery.
Chest Medicine Associates moves to state of the art medical facility.
Chest Medicine Associates will be moving to 100 Foden Road in South Portland in the first quarter of 2010.
The new location with 13,000 SF will be completely renovated giving doctors and patients a new state of the art medical office facility.
"Chest Medicine Associates is a group of professionals devoted to the specialties of pulmonary, critical care and sleep medicine. We treat a range of conditions, from asthma to emphysema to sleep apnea."
Patients will enjoy accessible on site parking in a nice campus environment with easy access to the Maine Turnpike and I-295.
Bucks Naked BBQ to open a second location in 2010
The new restaurant is scheduled to open in the spring of 2010 and will have the same menu as the Freeport location.
You can check out their menu at www.bucksnaked-bbq.com.
The Maine Bean Bakehouse and Deli will continue to operate at 4-8 turning Leaf Drive until January 2010 when the restaurant will close the location. They have been there since it was built in 2004. Maine Bean has already opened up another store at 111 Commercial Street in Portland where hopefully they will have continued success.
For more information about Maine Bean you can check their website at www.mainebean.com.
