News: Northern New England

CBRE/New England and Cushman & Wakefield lease 17,850 s/f at 7 Henry Clay Drive in Merrimack

According to CBRE/New England, Gate City Charter School, an elementary public charter school, has signed a new lease at 7 Henry Clay Dr. occupying 17,850 s/f. Karin Cevasco, Gate City Charter School's development committee co-chair, said, "We are pleased with all that 7 Henry Clay Drive in Merrimack has to offer for our school." CBRE/NE's Mike Tamposi, vice president at the firm's Manchester office, represented the landlord, Adamian Construction & Development, in the transaction. Tom Farrelly and Sue Ann Johnson of Cushman & Wakefield of New Hampshire represented the tenant. "Gate City Charter School's presence will enhance the image of 7 Henry Clay Drive and provide a solid foundation as we reposition this multi-tenant facility," said Tamposi. "This is the fourth charter school project our office has been involved with. Although the search for new charter school locations can be challenging, it is gratifying to know our work will help contribute to improving the quality of public education," said Cushman & Wakefield associate director Sue Ann Johnson. "We are happy to welcome Gate City Charter School as a new tenant to the building," said Heather Adamian of Adamian Construction and Development Corp. "We look forward to establishing a long-term relationship with them."
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Northern New England

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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.

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