Home to many of the fastest growing communities in Maine, the Sebago Lakes region is continuing its rebound from the Great Recession. Recent Census data puts Windham as the second-fastest growing Maine community, just behind our neighboring town of Gorham. All six of Windham’s bordering towns are in the top 30 fastest growing communities, including four in the top 10. Windham acts as the marketplace and service center for the region and serves a primary trade area population of 61,000 residents, and a secondary trade area of 80,000 people. The four-season nature of the region draws 500,000 visitors annually. Retail sales have rebounded from recession lows — and with 50 percent of the region’s sales, Windham leads the way. Construction of Single-Tenant Retail Remains Steady Tractor Supply (19,000 square feet), Goodwill (17,800 square feet) and Dollar Tree (10,000 square feet) have added to the 1.5 million square feet of retail space since 2012. AutoZone recently submitted plans for a 7,500-square-foot building to be constructed in the center of our retail district, and other retailers are showing interest in locations south of the retail center along U.S. Route 302. Vacancy Rates Remain Low Windham’s retail vacancy rate continues to remain low, …
Maine
The Southern Maine retail market is rebounding. According to Malone Commercial Broker’s retail survey, Greater Portland’s vacancy rate was at a 10-year high of 10.8 percent in 2009 but dropped down to 6.24 percent in 2011. We are seeing absorption of some empty big boxes, and new retailers are entering Maine’s marketplace. Last year, Buffalo Wild Wings opened its first Maine restaurant in South Portland and then opened a second location in Auburn. Five Guys opened its first Maine location in Portland in 2011, and Elevation Burger opened in South Portland at the beginning of 2012. Despite national headlines that Urban Outfitters is struggling, in 2011 the trendy chain leased approximately 10,000 square feet on Middle Street in Portland. Other retailers new to Maine’s marketplace over the last year include Aveda, BAM! Books-A-Million, J. Jill and White House Black Market. In addition to new retailers entering Maine, some existing national and regional retailers are expanding. To name a few: ACE Hardware has opened a new location in Falmouth; Subway has opened additional locations in Scarborough, Westbrook, and Lewiston; and Verizon opened a flagship store off of Franklin Arterial in Portland. Maine banks and credit unions are expanding as well. Norway …
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