News: Northern New England

CBRE/The Boulos Co. negotiates 8 leases

CBRE/The Boulos Co. brokered eight leases totaling over 100,000 s/f. * Dr. Joseph Melnick and Associates leased a 2,500 s/f office suite at 178 Middle St. from Buckstar, LLC. Dr. Melnick relocated his psychotherapy practice from 17 South St., which he sold in July. Andrew Ingalls represented the tenant. * University of Medicine and Health Sciences (UMHS) renewed and expanded its 8,268 s/f lease at Atlantic Place. Derek Miller and Drew Sigfridson, SIOR, represented the landlord, Dead River Atlantic Place. * and GZA Environmental leased 6,600 s/f at 477 Congress St. This transaction was handled on behalf of the landlord, 477 Time and Temperature, LLC by Nate Stevens and on behalf of the tenant by Ingalls. * Jayne Redman Jewelry leased 1,288 s/f at Dana Warp Mill, 90 Bridge St., Westbrook. Redman is joining a growing number of artists who have leased space at the Dana Warp Mill. Nate Stevens brokered the lease. * Global Environmental Solutions leased 6,000 s/f of office space at 707 Sable Oaks Dr., South Portland. Their new first-floor suite will be completely renovated by the landlord. Derek Miller assisted the tenant and Joseph Porta represented the landlord. * Iberdrola USA, parent company of Central Maine Power, and the largest tenant of Pineland Farms in New Gloucester, renewed its 60,913 s/f lease. Drew Sigfridson, SIOR, handled the transaction on behalf of the landlord, October Corp. * Goodwill Industries of NNE renewed its lease of 12,400 s/f at 1104 Forest Ave., Portland. Craig Young, CCIM, represented the tenant. * Pratt Abbott dry cleaners leased a 2,430 s/f retail unit at the Public Market Garage, 46 Elm St., Portland. Dan Greenstein and Charles Day handled the lease.
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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