News: Northern New England

Maine Real Estate & Development Association elects Eddy and Soley new board members

Mathew Eddy of Brunswick and David Soley of Freeport have been elected as board members of the Maine Real Estate & Development Association (MEREDA). Eddy is executive director of Eaton Peabody Consulting Group. Eddy has over twenty years of experience in economic development and planning. He most recently served as the director of economic and community development for the town of Brunswick. Prior to that, he served in the same capacity for the city of Westbrook after having spent several years working in research, planning and development for the Maine State Housing Authority, the City of Bath, the Greater Portland Council of Governments and the Town of Brunswick, as well as planning agencies in New Hampshire. Soley is co-founder and owner of East Brown Cow., a real estate investment, management and development company, established in 1989, which owns 22 commercial buildings and properties in the Greater Portland area. East Brown Cow has earned a reputation for providing first-class service to its tenants and for its commitment to the communities and neighborhoods where its properties are located. Soley is also Shareholder of Bernstein Shur and leads their real estate litigation group. According to Shelly Clark, business & operations manager of MEREDA, "The MEREDA board of directors is an exceptional group of individuals and Soley and Eddy bring a wealth of knowledge and experience to the organization."
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Northern New England

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Columns and Thought Leadership
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
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.

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. 

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