The Portland Technology Park is a commercial condominium. Companies in the park benefit from shared expenses for a wide range of services, reducing costs and enhancing efficiencies. Three sites, each referred to as a unit area (limited common element (LCE)), are available for sale and development. Site Four has been sold. Each unit area provides its owner with exclusive development rights and use within the boundary of that unit area. Development of a unit area is the owner’s responsibility, including building, driveway and parking area.
Fees
Condominium fees for common area expenses are conservatively estimated to range from $4,000 to $5,000 per year for each of four unit areas in the completed Phase 1 section of the park. Once Phase 2 is completed and the three additional units areas are sold and built out, estimates decrease to $3,000 to $4,000 per year for each of seven units.
The common area fees cover a wide range of items including insurance, plowing and sanding, landscaping, inspection/maintenance of drainage infrastructure, property management, road maintenance (i.e., vacuum sweeping, crack sealing and overlay), streetlight energy and maintenance costs, directors and officers insurance.
Unit Areas Available for Development (Phase 1)
Unit Area
Cost
Acres
Potential Building Size
Potential Building Footprint
Maximum Parking Spaces (if Needed)
1
$600,000
3.47
40,000
26,000
127
2
$305,000
1.36
10,000
10,000
40
3
$270,000
1.66
10,000
10,000
32
4 Sold 2.28 20,000 10,000 79
Minimum Parking Space Requirements
The minimum parking space requirement for office use is one space per 400 square feet. The minimum parking requirement for manufacturing use is one space per 1,000 square feet.
More Information
For more information, contact Justin LaMontagne, NAI/The Dunham Group, (207) 773-7100, or justin@dunham-group.com.