Lewiston, ME Cardente Real Estate has completed the following transactions:
• 299 River Road, LLC has purchased from Roger Roberge the business and commercial real estate located at 299 River Rd. in Lewiston for $390,000.
• Cort Management, LLC has purchased a 1.95 acre commercial parcel at 601 Main St. in Gorham for $245,000. This transaction was brokered on behalf of the seller by WRE Commercial and on behalf of the buyer by Cardente Real Estate.
• AMJJ Holding Company, LLC has purchased the Higgins Beach Market (business and real estate) located 82 Spurwink Rd. in Scarborough for $645,000. Purchased from Three Bears Holding Company, LLC, this transaction was brokered on behalf of the seller by Cardente Real Estate and on behalf of the buyer by Fishman Realty.
• ALCOM, LLC has leased 1,229 s/f of office space from Fore Street Investments, LLC on the 2nd floor of 322 Fore St. in the Old Port of Portland. This transaction was brokered by Michael Cobb of Cardente Real Estate.
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.
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.