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. Sites, often referred to as unit areas (limited common element [LCE]), are available for sale and development. Site Four has been sold and developed, and sites 6 and 7 are under contract. 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 $3,000 to $5,000 per year divided evenly among all unit owners. The more owners, the lower the fees. The common area fees cover insurance, plowing and sanding, landscaping, inspection/maintenance of drainage infrastructure, property management, road maintenance (i.e., vacuum sweeping, crack sealing and overlay), and electricity for streetlights in the Park.
Unit Areas Available for Development (Phase 1)
Unit Area
Cost
Acres
Potential Building Size
Potential Building Footprint
Parking Spaces (Approximate)
1
$420,000
3.47+\-
Up to 33,000 SF
16,500
83
2
$275,000
1.36+\-
10,000 SF
10,000
25
3
$240,000
1.66+\-
10,000 SF
10,000
25
4
SOLD
5
$250,000
1.29+\-
10,000 SF
10,000
25
6&7
$595,000
2.93+\-
Up to 35,000 SF
UNDER CONTRACT
88
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 Nate Stevens of The Boulos Company at (207) 272-2385 or nstevens@boulos.com.
