Condominium Business Park
The Portland Technology Park is a commercial condominium. Companies in the park will 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 now available for sale and development. 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.
Condominium fees for common area expenses are conservatively estimated to range from $4,000 to $6,000 per year for each of three unit areas in the completed Phase 1 section of the park. Once Phase 2 is completed (likely in 2015) and the four additional units areas are sold and built out, estimates decrease to $3,400 to $4,200 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)
Potential Building Size
Potential Building Footprint
Maximum Parking Spaces (if Needed)
4 U/C 1.46 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.
For more information, contact Justin LaMontagne, NAI/The Dunham Group, (207) 773-7100, or email@example.com.