Colchester, VT Steve Donahue of Donahue & Associates completed the sale of a 65,760 s/f class A multi-tenant commercial office building located at 463 Mountain View Dr.
The building, which is situated on 4.25 acres, was sold to Acabay 463 WTH LP. The sellers, Park Place 2000 Associates, Inc., owned the brick commercial building since its construction in 1990. The building offers four floors of commercial space with views of both Lake Champlain and the New York State’s Adirondack Mountains. Tenants include KPMG, Marsh & McLennan, Acadia Insurance and Liberty Mutual.
The sale price was $5.5 million.
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 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.