Portland, ME — February 2026 — Davis, a national healthcare real estate firm operating out of Minneapolis, MN, announced the successful expansion and long-term lease extension of InterMed at 84 Marginal Way, a prominent Class A outpatient medical property located in Portland’s Bayside neighborhood. The transaction secures 102,557 square feet across 10 stories, and includes structured parking, under a new 16-year lease term.
“The transaction underscores Davis’ 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, Executive Vice President, Davis.
Davis acquired the property in 2021 with a strategic business plan to convert existing general office space into medical use. This lease expansion and extension fulfills that vision. InterMed, the building’s longstanding clinical user and one of Maine’s leading healthcare providers, is adding an approximate 34,000-square foot block of space being vacated by a law firm and will occupy 100% of the building.
With InterMed’s expansion, the property becomes the premier healthcare building in downtown Portland and serves as InterMed’s flagship location in the state of Maine. As part of its long-term commitment, InterMed will consolidate several existing clinical specialties into the building, enhancing operational efficiency while delivering a centralized, state-of-the-art care environment for patients and providers.
InterMed’s long-term commitment underscores the strength of the location and the continued demand for outpatient clinical space in Greater Portland.
“It isn’t often that you see a physician group like InterMed leasing an entire vertical structure in a market the size of Portland,” said Davis. “Yet this is a unique situation, and it created a unique opportunity for our acquisition in 2021 and for InterMed’s lease expansion now.
According to Davis, downtown Portland, an economic driver for the state, sits on a peninsula with a scarcity of available land around it. That and its status as one of the few buildings with attached structured parking, makes it an extremely attractive signature property.
InterMed was represented by the team of Katie Breggia and Tom Moulton of The Dunham Group.