News: Northern New England

ARC, RFS and Harvey break ground on 118,000 s/f middle school

Representatives from the city, Laconia School District, Laconia Memorial Middle School, ARC/Architectural Resources Cambridge, Rist-Frost-Shumway/RFS Engineering, and Harvey Construction Corp. celebrated the groundbreaking of a new Memorial Middle School, $24.3 million project that will replace the existing Memorial Middle School. The 118,000 s/f facility will serve grades six through eight and will accommodate up to 750 students. The project will replace an existing 1961 facility with a new middle school building on the same site. Phasing of demolition and new construction is required in order for the current school to remain occupied during the construction process. Phase 1 consists of a 3-story academic wing that includes classrooms, administrative spaces and a library/media center. Phase 2 consists of a 1-story core wing, which will include a cafeteria and kitchen, gymnasium, multi-purpose room, and music classrooms. Phase 1 will be complete in fall 2008, with the completion of phase 2 to follow in fall 2009. Memorial Middle School has been designed to be a sustainable or "green" building in accordance with the New England Collaborative for High Performance Schools (CHPS), a non-profit organization that works to improve the quality of education for New England's children. New Hampshire recently recognized the CHPS program, and enacted legislation to provide additional school building aid for projects which meet specific CHPS criteria.
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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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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. 

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.

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
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