R.M. Davis signed one of the largest office leases in downtown Portland, Maine, last year, part of a trend that saw major office occupiers recommit to office locations in downtown neighborhoods across the country.
The firm, one of northern New England's largest independent investment advisers, leased 24,185 square feet at the 10-story One Portland Square and plans to move from 24 City Center in September 2026 following an extensive renovation of the new space. The firm's relocation signaled renewed confidence in downtown Portland as a primary business location for financial services firms.
Following its initial commitment, the firm signed an amendment to add 5,999 square feet, bringing total occupancy to 30,184 square feet.
About the project: The lease delivers meaningful net absorption in a competitive downtown office market where large, contiguous blocks of high-quality office space are quite limited. R.M. Davis' move also reinforces downtown's ability to attract and retain employers seeking to make the office a place employees want to be. The North River IV-owned building's location and amenity-rich environment enhance R.M. Davis' ability to do that while supporting the broader downtown economy through sustained daytime activity.
What the judges said: "This deal deserves recognition for creative brokerage negotiations in moving a couple of tenants around in a tight market for Class A in that size segment," said Justin Lamontagne, partner with The Dunham Group. Jon Rizzo, partner at The Boulos Co., said, "This large Class A office lease in downtown Portland was impactful in the sense that it showed the office market is strong in downtown Portland and deals are getting done."
They made it happen: Jennifer Small of Malone Commercial Brokers represented R.M. Davis. Drew Sigfridson and Brice O'Connor of The Boulos Company represented the landlord.