News: Northern New England

Deshler of CRE Mgmt. leases 1,500 s/f

CRE Management has leased 1,500 s/f to Weight Watchers of Maine at the Auburn Plaza at 730 Center St. Will Deshler, managing partner, CRE Mgmt., represented the tenant and the landlord, GFI Partners. Other tenants at Auburn Plaza, include Bed Bath & Beyond, T.J. Maxx, and Flagship Cinemas, Family Dollar, Big Lots!, Craft Mania, Jo-Ann Fabrics, China Wok, Dollar Tree, Legala Nails, Sally Beauty, Elder Independence of Maine, Family Dentistry, Uniforms Express, Bedderest, U.S. Army Recruiting, H&R Block and US Cellular. "We are happy to have Weight Watchers join an already dynamic group of tenants at the Auburn Plaza," Deshler said. "The improved location, coupled with the retail traffic the plaza already receives, will make an excellent fit for Weight Watchers." GFI Partners is a full-service real estate development company based in Boston. Since 1997, GFI has completed more than 50 real estate transactions with more than $500 million in cumulative value. GFI's portfolio spans the U.S. and is focused on opportunistic, value-added development projects. GFI has successful executed projects across the risk spectrum, including: corporate sale-lease back; speculative industrial construction; build to suits; and commercial and retail repositioning. GFI managed more than 1.2 million s/f of industrial, office and retail space.
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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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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. 

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.

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