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August 3, 2023

Tilson lists surplus space at Portland HQ for $1.9M

Tilson building exterior Photo / Renee Cordes Tilson is an information technology company headquartered at 16 Middle St., Portland.

Six years after investing $4 million in a new Portland headquarters building, Tilson has found itself with extra office space it is seeking to sell or lease.

The information technology company is based in a five-story downtown building at 16 Middle St., built in 2017 and featured in a 2018 Mainebiz photo essay. Now Tilson is seeking to sell half a floor for $1.9 million in a listing with the Boulos Co.

Founded in 1996, Tilson employs more than 1,110 people nationwide, including around 150 in Maine.

The $1.9 million listing price is for 5,374 square feet on the third floor of Tilson's building. The listing also gives a price of $1.05 million for 3,307 square feet of the office portion, which is also available for lease as advertised in a sign on the building's exterior.

Boulos associate Claire Richardson told Mainebiz that the commercial real estate firm has already received many inquiries since the listing went live on Tuesday. Tilson CEO Joshua Broder reported the same, telling Mainebiz on Wednesday that he's getting "lots of calls from local CEOs" about the space.

File photo
Tilson CEO Josh Broder

In a LinkedIn post about the listing, Broder said the move comes as the company has moved to being fully remote for many of its office workers. Nearly two years ago, the company made working from home a permanent option for all of its employees.

"We recognize that life is complicated, and people deserve flexibility," Broder said in his LinkedIn post. "Our field and market focused teams are often in our 30ish regional offices around the country. We are still learning about how often we should get teams together, but the days of someone being required to work in the office every day, when their work does not related to the local market, are not coming back at Tilson and our teams are already widely distributed.

"While I still come to the Portland office daily when I'm not traveling because I like it, many have made the choice not to."

He also said that despite the company's 50% year-over-year-growth, Tilson has half a floor of surplus space.

"Come be my office neighbor, I'm always up for sushi on the first floor," he said in his informal pitch. "And as always, if you love flexibility, we are hiring."

The company, which has a growing national footprint, lists 121 jobs on LinkedIn in a number of locations.

The listing comes as evolving work habits play out on the commercial property market, with a growing number of offices being converted into other uses from residential to light industrial.

In its latest report on the downtown Portland Class A office market, Boulos Co. reported a vacancy rate of 3.45%, attributed largely to five vacancies of more than 10,000 square feet.

The previous vacancy rate, in the January report, was 3.75%, which all included the five large vacancies as well as a handful of smaller vacancies.

More information

Find the Tilson office listing here.

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