News: Northern New England

ARC and RFS Engineering complete 118,000 s/f Laconia middle school

ARC/Architectural Resources Cambridge, Rist-Frost-Shumway/RFS Engineering, and Harvey Construction Corp. have completed a new 118,000 s/f building for Laconia Memorial Middle School. The three-story building, which includes classrooms, administrative spaces, a library/media center, cafeteria and kitchen as well as a gymnasium and multi-purpose room was occupied this month by students and the faculty. The new building serves grades six through eight and will accommodate up to 750 students. The new building replaced an existing 1961 facility on the same site. "We just completed the final phase of the project. Phasing of demolition and new construction was required in order for the school to remain occupied during the construction process," said Henry Reeder, FAIA, Principal-in-Charge of the project at ARC. "The project was designed to be a sustainable or 'green' building in accordance with the New England Collaborative for High Performance Schools (NE-CHPS)." Harvey Const. served as general contractor for the project. RFS served as the MEP, structural and civil engineer.
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Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
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Columns and Thought Leadership
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units. 

The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.