News: Northern New England
Posted: July 2, 2015
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.
Tags:
Northern New England
MORE FROM Northern New England
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
Quick Hits
Columns and Thought Leadership
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
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.
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.
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