News: Northern New England

CB Richard Ellis/The Boulos Co. brokers 9 leases totalling 24,827 s/f

CB Richard Ellis/The Boulos Company negotiated 9 leases. * Forum Trust has leased 2,837 s/f of office space from GRE Congress Canal, LLC at Three Canal Plaza (shown). Greg Boulos of CBRE/Boulos represented the landlord. * Novare Res has leased 6,370 s/f of restaurant space at four Canal Plaza from Buckstar II, LLC. Novare Res will operate a European-influenced beer café and specialize in small craft-brewed beers. This transaction was brokered on behalf of the landlord by Steve Baumann of CBRE/Boulos and of the tenant by Nate Delois of Cardente Real Estate * Kleinschmidt Associates leased 2,820 s/f of office space at 256 U.S. Rte. One in Falmouth. Kleinschmidt is an engineering firm headquartered in Pittsfield. Drew Sigfridson, SIOR, of CBRE/Boulos brokered this office transaction on behalf of the sub-landlord, Casco Bay EyeCare. * Whitco Properties, Inc. has leased 3,120 s/f of office/flex space at Turnpike West Business Park at 190 Riverside St. This transaction was brokered on behalf of the landlord, Bounty Development, LLC, by Andrew Nelson and on behalf of the tenant by Jessica Estes, both of CBRE/Boulos. * Community Oxygen Service, Inc has leased 2,000 s/f of office/warehouse space at 736 Riverside St. from Three A Maine LLC. Community Oxygen Service will use the location as a medical supply distribution center. This transaction was brokered on behalf of the landlord by Sigfridson and on behalf of the tenant by Nate Stevens, both of CBRE/Boulos. * CAD Management Resources, Inc. has expanded into a 1,580 s/f office suite at Pineland Farms in New Gloucester. Justin Lamontagne, of CBRE/Boulos, represented the tenant and the landlord, The October Corp. * The Ace Corp. has leased a 4,000 s/f office/warehouse unit at the Maine Mall Business Building at 125 John Roberts Rd. in South Portland. Lamontagne represented the tenant and the landlord, SJ Realty. * Citigroup Inc has leased 2,100 s/f of retail space at 600 Turner St. in Auburn from Auburn Turner Realty LLC. This transaction was brokered on behalf of the tenant by Baumann and Gilston Hutzler of CB Richard Ellis and on behalf on the landlord by Kevin Fletcher of Coldwell Banker Millett Realty. * Marketing Solutions Inc has renewed their lease for office space at 480 Congress St. in Portland from JB Brown & Sons. This transaction was brokered on behalf of the tenant by Baumann and on behalf on the landlord by Vincent Veroneau of JB Brown & Sons.
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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