Manchester, NH Harrington & Reeves completed the $749,000 sale of the former Manchester police station. Tranquility Holding, LLC, the buyer of the property worked with Michael Harrington of Harrington & Reeves to purchase the property.
Tranquility Holdings, LLC, has submitted designs for approximately 240 self-storage units to be installed in the 30,000 s/f building. The sale also included two parking lots with 53 parking spaces available for lease. Mike Reed of Stebbins Commercial Properties represented the seller.
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.
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.