News: Northern New England

Gori of Coldwell Banker Residential to head-up sales of The Sea Point condos

Representatives of Lewis Farm, LLC, developers of the project, Pine Brook Builders, and Coldwell Banker Residential Brokerage, the marketing firm for Lewis Farm Conservancy community, held a special groundbreaking ceremony for The Sea Point series of condominium homes. Presently, the Lewis Farm Conservancy contains 40 individual home-sites accommodating both single family and condominium homes. Lewis Farm Conservancy is an environmentally responsible, planned community offering homeowners their own private space within a 135 acre site. The homes are surrounded by 90 acres of conservation land. Phase I of the condominium construction is underway in the Dahlia Dr. neighborhood. Each of the seven lots off Dahlia Dr. will contain two condominium homes. These three-level, two and three bedroom cape style homes are being offered with 1,650 s/f of living space. The homes offer expansion capabilities above the two-car garage or in the full walkout garden level. Additional features include first floor master bedroom suite, hardwood floors, granite countertops, cathedral ceilings, skylights, corner gas fireplace, deck, laundry room, and loft/office. Construction is scheduled for completion next month. Lewis Farm Conservancy is one of the first green communities in York County. The building team is involved with the LEED for Homes pilot program promoting Green Building Council efforts and Energy Star solutions. LEED for Homes is a voluntary rating system that promotes the design and construction of high performance green homes. Benefits of a LEED home include lower energy and water bills; reduced greenhouse gas emissions; and less exposure to mold, mildew and other indoor toxins. The Coldwell Banker office in Portsmouth, N.H. was selected by Lewis Farm, LLC to exclusively market the community. Jeremy Gori has been named director of sales and will lead the sales team.
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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. 

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