News: Northern New England

Dennis Mires, P.A. designs 32,000 s/f mixed-use project for N.H. Institute of Art; $7.3 million facility built by Milestone Engineering & Construction

Dennis Mires, P.A., The Architects has completed 88 Lowell St. for the New Hampshire Institute of Art. This $7.3 million project saved the city's first high school building by moving it forward on the site over a new basement, restoring it, and constructing a new connector and six story addition. The completed 32,000 s/f mixed use project provides 12 classrooms and studios, 54 dormitory beds, faculty offices and support spaces. The solution employs many sustainable strategies including reusing the embodied energy of the historic building; providing a high performance envelope; using day lighting, shading and glazing to advantage; employing a geothermal heating and cooling energy source; using rainwater harvesting for toilet flushing; employing a photovoltaic array on our sunshades to provide a portion of the electrical needs; no VOC materials, and locally produced materials. This effort expects to result in a LEED Gold certification for this downtown property. The project was completed on time and under budget by Milestone Engineering & Construction, Inc.
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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
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.

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
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.