News: Northern New England

CBRE|Boulos brokers 6 leases totalling 22,614 s/f and 5 acre development site

CBRE | The Boulos Co. negotiated 4 office, one industrial and one land lease. * Surveillance Specialties LLC has leased 4,800 s/f of industrial space at 4 Thomas Dr. in Westbrook, from the landlord, Millennium Development LLC. Dan Greenstein represented the landlord. Greg Hastings of NAI/The Dunham Group represented the tenant. * Bolduc Employment Support & Services has leased a 1,059 s/f office suite at 175 Lancaster St. at the Bayside Complex in Portland from Bayside II, LLC. Justin Lamontagne represented the landlord. * Summit Adjustment Service Inc has leased 1,152 s/f of office space at 47 Gray Rd. in Falmouth from David Rogers. Nate Stevens represented the landlord and the tenant. * TRC Environmental Corp. has renewed their 4,268 s/f office lease at 125 John Roberts Rd. in South Portland. This lease was brokered by Boulos Property Management. * HP Hood, LLC has leased five acres at Thompson's Point in Portland from Thompson's Point, Inc. This transaction was brokered on behalf of the tenant by Craig Young, CCIM and on behalf of the landlord by Alan Fishman of Fishman Realty Group. * HM Payson & Co. has leased 11,335 s/f of office space at One Portland Sq. from RREEF America REIT III-Z4 LLC. Daniel Greenstein represented the tenant and Deb Napolitano of Paragon Commercial Real Estate represented the landlord.
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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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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. 

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
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.