News: Northern New England

Berge's sells 2.5 acres to Federated Realty

Berge's Real Estate and Construction Co. Inc. sold a 2.5 acre commercial parcel located near Wendy's at 294 North Broadway for $1.3 million. A new retail center is planned for the location, currently under construction.
Berge Nalbandian represented the seller Claire St. Laurent Trust, and the buyer Federated Realty Five LLC, a national commercial real estate developer.

Berge's R.E also sold the former Windmill Heavy Equipment Co. property located at 240 & 242 North Broadway for $3 million. The property was sold to BSS Company Inc. The property consists of 6.5 acres with 533 feet of frontage on Rte. 28 plus a commercial building. The property is being developed into an upscale shopping center. Nalbandian represented the buyer and seller.
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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