News: Northern New England

Consigli outing rasies $2,000 for ACE program

The annual Consigli Summer Outing, which brings together Maine's leading subcontractors, designers and building owners for an industry event at Hadlock Field, raised over $2,000 this year in support of the ACE Mentoring Program. ACE (an acronym for architecture, construction, and engineering) is a unique partnership among industry professionals — architects, interior designers, engineers, construction managers, college and university representatives, and other professionals from related corporations and professional organizations — who work together to attract young people to their professions. The program has been successfully launched in the Bangor region, and Consigli employees Matthew Cyr, Dave Thomas and Chris Brown have established a new chapter in Portland. "ACE is a terrific opportunity for professionals to connect with students who may not have considered a career in construction, design or engineering," said Cyr, a project manager at Consigli's Maine headquarters in Portland. "It's also important that the industry reach out and build the talent pipeline for years to come." This year, the Consigli Summer Outing enjoyed generous support from Maine subcontractors, designers and engineers who donated and helped to raise money that will be channeled into ACE's operations in Maine, helping to support programming, events and most importantly, scholarships. Part of ACE's mission is to award scholarships to those students who clearly demonstrate the drive and passion necessary to succeed in the industry.
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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. 

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.