News: Northern New England
Posted: July 6, 2018
Cobb of Cardente Real Estate sells Lower Falls
Landing at 106 Lafayette St. for $5.4 million
Cardente Real Estate
Yarmouth, ME According to Cardente Real Estate, SEKA Properties, LLC has purchased Lower Falls Landing at 106 Lafayette St. for $5.4 million. The property was brokered on behalf of the sellers, Lower Falls Landing Associates, by Mike Cobb of Cardente Real Estate, and on behalf of the buyer by Jennifer Yilmaz of Applewood Realty.
This waterfront development includes a 40,931 s/f office and retail building, 7,836 s/f restaurant and 26 boat slips. Lower Falls Landing is situated on 5.1 acres. Occupied by a mixed group of tenants, this signature investment property is in one of Maine’s most desirable communities. Originally constructed as a cannery, the owners redeveloped the property, transforming it into high quality office space with retail on the first floor. The property is also home to The Royal River Grillhouse.
In another transaction, Hoyle Tanner & Associates, Inc. has leased 2,690 s/f of office space at 106 Lafayette St. This transaction was brokered on behalf of the landlord, by Mike Cobb of Cardente Real Estate, and on behalf of the tenant by Andrew Sturgeon of SVN The Urbanek Group.
Tags:
Northern New England
MORE FROM Northern New England
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
Columns and Thought Leadership
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
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 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
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.