News: Northern New England

Armstrong of Properties Northeast leases 25,000 s/f to MTM

Tony Armstrong of Properties Northeast, Inc. represented Maine Today Media (MTM) in its lease of 25,000 s/f of office space at One City Center. Dirigo Management represented the building owners. MTM is the new owner of the Portland Press Herald, the Maine Sunday Telegram, the Kennebec Journal and the Waterville Sentinel. Their offices had been located at 390 Congress St. As part of the move, 7,000 s/f of office space was moved to the location of the MTM's printing plant in South Portland. Armstrong said "MTM chose One City Center because it is in the center of Portland, where the Press Herald offices have historically been located. One City Center had one large floor plate available where most of the operations could be centralized. One City Center also recently made major improvements to the HVAC system, thereby reducing operating costs for tenants."
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary