News: Northern New England

Lamontagne named partner at NAI The Dunham Group

Justin Lamontagne, NAI The Dunham Group Justin Lamontagne, NAI The Dunham Group

Portland, ME According to NAI The Dunham Group, Justin Lamontagne, CCIM has been elected as a partner of the firm. Lamontagne joined NAI The Dunham Group in 2011 and has worked in commercial real estate since 2006. He has brokered transactions in all sectors of commercial real estate, specializing in industrial, office and investment properties.

Lamontagne has experience and expertise in sale/lease negotiations, property valuation, landlord/tenant representation, site searches and strategic planning. In 2013, he was named the Maine Commercial Association Realtor of the Year. In 2015 he earned the prestigious CCIM accreditation, an international membership comprised of the world’s top commercial real estate professionals.

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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
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.

Residential is here to untie the office space doom loop - by Thomas House

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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.