News: Northern New England

Cobb Hill Construction completes pro bono work at South Church

Cobb Hill Construction has completed pro bono renovation work for South Congregational Church with time and materials donated by several local companies. Cobb Hill renovated a kitchen, a bathroom, and an office in the house at 6 South State St., which is adjacent to and owned by the church. All work was done at no cost to the church. Bathroom renovations were done by Dennis Hager, master plumber, and included the installation of handicap plumbing fixtures donated by Bow Plumbing and Heating and bath accessories by Lang Door & Hardware. All three rooms were painted by Peak Painting and vinyl composition tile flooring, donated by JDS Flooring, was installed in the enlarged kitchen and bath. The electrical system was also reworked by Irish Electric. Accountable Cleaning did the striping and sealing all of the VCT floors. The kitchen renovations included combining the existing kitchen and the room next to it, making the space larger. A new office and handicap accessible restroom were built next to the remodeled kitchen. Now that the project is complete, the church will move its counseling services from the basement of the church into the newly renovated space next door. The project manager was Claude Dupuis.
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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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Columns and Thought Leadership
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. 

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
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
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.