News: Northern New England

Haffenreffer of NAI The Dunham Group brokers $1.65 million sale

TC Haffenreffer,
NAI THe Dunham Group

Bangor, ME Bangor Savings Bank’s newly built flagship campus has added another building to the home base. On February 11th, the bank purchased 36 Pleasant St., a 28,780 s/f waterfront office building from Gopher Hill Communications, LLC for $1.65 million. TC Haffenreffer from NAI The Dunham Group represented the seller. David Hughes from Epstein Commercial Real Estate and David Latulippe of CJ Developers Inc. represented the buyer. 

The former home of Berry Dunn, 36 Pleasant St. is a turnkey owner/user office property. 

“When we think about Bangor and what can benefit the region from an employment standpoint, we know that further development of our waterfront campus is necessary,” said Bob Montgomery-Rice, president and CEO of Bangor Savings Bank. “The purchase of 36 Pleasant St. works well with our long-term vision.  As the bank grows across Northern New England, our need for Bangor-based employees to support that growth will continue. No matter where we go, however, our commitment to the Bangor region is steadfast and this investment reiterates our intention to remain a Bangor-based company.”  

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
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