Shipyard Brewery | Cambria Suites | 86 Newbury Street | Covetrus | 12 Mountfort Street | Portland

Looking down Mountfort:

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Anyone have any idea when the hotel will open? Also is this the spot where Aroma Joe's is finally going on the peninsula?
 
It looks like the hotel's website is allowing reservations to be made beginning September 1: https://www.cambriaoldport.com/

It's been nearly four years since they first started doing work at this site. I wonder if Covetrus leadership has had any second thoughts about the need for such a massive office building, given all the changes in that time between the pandemic and the company itself. They've just announced their intention to go private. I wonder if it will impact how they utilize this space.

Also appears that they've just begun breaking ground for the three townhouses that are supposed to go up on Newbury Street. You have to imagine it will be at least another year before they finish those up...
 
Looks like they've got a good deal done on those houses - think they'll finish by the end of 2021?
 
Apparently Covetrus's office needs have indeed shrunk since 2019 and they will only be utilizing about half of the completed office space. The rest will be sublet to Woodard & Curran, so thankfully the completed building will still be mostly occupied.

Word is that Woodard & Curran was originally going to be an anchor tenant of 3 Portland Square , but has instead chosen to go with the Covetrus building
 
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According to MaineBiz article today, Woodard & Curran is moving all of its operations to the waterfront and vacating its Congress Street location. Class A downtown space availability according to reports are tight. It is hard to find 25,000 Sq and above available downtown,
 
PWMFlyer said:
Class A downtown space availability according to reports are tight. It is hard to find 25,000 Sq and above available downtown,
Click to expand...

At the same time, suburban office space is still struggling to retain tenants in the post-COVID era.... The fact that most of the suburban office buildings in the Portland area are outdated and dingy doesn't help. (I've been in Woodard & Curran's existing HQ...it looks like it's the set of a workplace sitcom from the early 90's)

Companies that -DO- want more office space want it in a vibrant and central location to attract younger talent. If you want a central, vibrant and visible location for your business....you can't do much better than downtown Portland.

I'm optimistic that the downtown office market will start to look like it did in 2019, and we'll start to see demand for new space.

Meanwhile the suburban office market will continue to stagnate
 
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