News: Northern New England

Fletcher of Coldwell Banker Millett Realty sells Rite Aid store for Wonder Resources Development LLC - $1.575 million

Kevin Fletcher, CCIM, of Coldwell Banker Millett Realty brokered five transactions. * 698 Minot Ave. is a NNN leased Rite Aid in which the seller, Wonder Resource Development LLC was represented by Erik Urbanek of Commercial Properties Inc. and Naples Wales LLC was represented by KFletcher. The 11,068 s/f property sold for $1.575 million. * 181 Center St. an 8,300 s/f multi tenanted retail building anchored by Fed Ex/Kinko's was sold for $915,000 to LMD Properties LLC. Fletcher represented the seller, 181 Center St. LLC. JP Maloney of JP Maloney Realty Inc represented the buyer. * 48 West St., Freeport, a 5,000 s/f vacant retail property, was sold to Matt Orne for $410,000. Fletcher represented the seller, Rodman Coach LLC. Steve Baumann of Cardente Real Estate represented Orne. * Fletcher represented Fastenal in its lease of 3,470 s/f of retail space at the Mount Blue Shopping Center in Farmington. Danielle Lape of King Real Estate represented the landlord, TEJAS CORP. * Fletcher was the sole broker in the 2,580 s/f lease at 245 Center St., Auburn, by Florist Mall Center Street LLC to Paradise Salon & Spa Inc.
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Ask the Electrician:  How do I prepare my commercial building for a disaster?

Ask the Electrician: How do I prepare my commercial building for a disaster?

New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary