Minneapolis-based healthcare real estate firm Davis secured the expansion and long-term lease extension of InterMed at 84 Marginal Way, a prominent Class A outpatient medical property located in Portland, ME’s Bayside neighborhood. The full-building transaction secures 102,557 square feet across 10 stories and includes structured parking under a new 16-year lease term.
“The transaction underscores Davis’s philosophy of investing in high-quality, mission-critical assets and supporting essential healthcare infrastructure within the Portland market and around the country,” said Stewart Davis, EVP, Davis.
According to Davis, downtown Portland, an economic driver for the state, sits on a peninsula with very little available land around it. That and 84 Marginal Way’s status as one of the few buildings in the neighborhood with attached structured parking make it an attractive signature property, he added.
InterMed was represented by the team of Katie Breggia and Tom Moulton of The Dunham Group.
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