News: Northern New England

Fulcrum building Hitchiner Mfg.'s 46,000 s/f addition

Fulcrum Associates, Inc. is in the process of constructing Hitchiner Manufacturing's 46,000 s/f addition to the gas turbine casting facility at 117 Old Wilton Rd. The construction project is scheduled to be completed in two phases, phase one will include the construction of the entire addition building shell, 26,000 s/f of 2-story office and 20,000 s/f of expanded manufacturing space, relocation of a major natural gas service entrance, build out of the manufacturing space, mechanical and electrical systems upgrades as well as parking and circulation improvements. Phase two of the project consists of the interior fit up of the 26,000 s/f office space. Construction began in November 2010 with phase one scheduled to be completed in May. The building façade will be a blend of masonry and insulated metal panel. Dennis Mires P.A.,The Architects are the designers for the project and Hayner Swanson Inc. provided civil engineering.
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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. 

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.

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