News: Northern New England

Brady Sullivan Properties leases 40,000 s/f of retail/warehouse space to Tiny Totland at the Waumbec Mill complex

Brady Sullivan Properties completed a retail/warehouse transaction with Manchester based Tiny Totland. The company has signed a long term lease at the Waumbec Mill, 250 Commercial St., for 40,000 s/f for its retail and warehouse location. This transactions brought the five-story buildings vacancy rate to less than 5% according to Charles Panasis director of commercial real estate for Brady Sullivan Properties. The 450,000 s/f Waumbec Mill had major renovations over the last year and a half that included all common areas and entrances to the mill complex located along the Merrimac River. The mill features two tailboard loading docks, 250 parking spaces, 1 passenger elevator, 1 freight elevator, newly sand blasted floors and ceilings, exposed brick & beam and original wood flooring. "We are very pleased to have a company such as Tiny Totland stay in the Manchester area for many years to come," said Panasis.
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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.