
Manchester, NH SVN|Masiello completed the sale of 1069 South Mammoth Rd. This over 10,000 s/f building of uninterrupted clear span warehouse sold for $1,429,384.18. This facility has a CO2 detection and exhaust system, an air compressor, concrete radiant heat, pre-wired CCTV cameras, air conditioned dispatch office and break room areas.
Matthew Bacon and Cassandra Farley of SVN|Masiello Commercial represented the seller, 14 SMR LLC. The buyer, Lynch Real Estate Holdings, was represented by Mike Reed of Stebbins Commercial Properties.
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.
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.