News: Northern New England

Kelley of Brady Sullivan Props. leases 6,500 s/f at Waumbec Mill

Brady Sullivan Properties has completed another transaction at the Waumbec Mill. This long term transaction between Kaleidoscope Children's Museum, LLC and Brady Sullivan Properties consists of over 6,500 s/f. Kaleidoscope will be occupying a first floor suite which was recently renovated by Brady Sullivan this past year. "All of us at Brady Sullivan are very excited about the addition of Kaleidoscope Children's Museum at the Waumbec Mill. In addition to being a great tenant, this transaction also brings the overall occupancy of the building to over 95%", said Ben Kelley of Brady Sullivan. Kaleidoscope was represented by Donna Rice of Premier Properties. Kelley represented the landlord, Brady Sullivan Properties. Located in Manchester's historic Millyard, the Waumbec Mill offers over 450,000 s/f of space. The suite features refurbished hardwood floors, exposed brick and beams, 14' ceilings, private bathrooms, multiple entrances, and more. Kaleidoscope, previously located in Concord, has been in business for a number of years and is looking forward to their new, expanded space.
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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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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.

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
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
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.