News & Press

Mainebiz | Small leases are big in Monument Square transformation

Feb 05, 2020

New construction on the Portland peninsula is getting a lot of attention, but with office space at a premium, and driven by some high-profile building sales, Monument Square is going through its own makeover.

Particularly after the recession, tenants migrated out of the buildings in Monument Square to renovated space and new construction on the waterfront. In recent years, Monument Square, which includes buildings on the plaza itself as well as those radiating a block or two down Congress Street, have accounted for 80% of the office vacancies on the peninsula, said Samantha Marinko, an associate broker with Boulos Co.