News: Northern New England

JHR Development completes $6 million construction project for medical office building

On June 9th, Hilary Rockett, Jr., owner of JHR Development of Marblehead, Mass., was on hand to celebrate the opening of Mid Coast Hospital's new medical practice in downtown. The 20,000 s/f, two-story healthcare center, valued at $6 million, adds to over 300,000 s/f of existing space developed by JHR in the region. Recipient of the Southern Mid Coast Maine Chamber of Commerce Business of the Year award, JHR worked with Mid Coast Health Services to build a healthcare center at 108 Centre St. that will provide preventive and chronic disease care, as well as integrated behavioral health counseling. More than 200 were present for a ribbon cutting and remarks by officials from Mid Coast Health Services, the City of Bath, and JHR Dev. JHR Development is presently in the planning process for a 40-unit condominium community on the Kennebec River in Bath and is nearing completion of a 35,000 s/f school for special needs children in Beverly, Mass.
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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