News: Northern New England
Posted: February 3, 2023
Maine Realty Advisors brokers seven sales and one lease totaling $6.475 million
Saint Albans, ME Nathan Beaulieu purchased 181 Springer Rd. a 1,000 s/f residential building, from Scott and Jennifer Smith for $310,000. Ben Spencer of Maine Realty Advisors and Erin Levesque of Real Estate 2000 ME/NH brokered the deal.
Waterville: The Herget Group, LLC purchased a 22 acre parcel of land from Retlew Investments, LLC for $225,000. Spencer of Maine Realty Advisors and Charles Craig of The Dunham Group brokered the deal.
Oxford: 1240 Main Street, LLC purchased a one acre parcel of land, 1240 Main St., from Craftsbury, LLC for $245,000. Amanda Melnick of Maine Realty Advisors and Chris Craig of The Dunham Group brokered the deal.
Portland: John Broucek purchased 154 Belmont St., a 2,000 s/f single family building, from ACRE Properties for $599,900. Josh Soley of Maine Realty Advisors and David Marsden of The Bean Group brokered the deal.
Lewiston: Zenith Equity Group LLC purchased 415 Lisbon St., a 10,000 s/f office condo, from H&M Investments for $776,500. Soley of Maine Realty Advisors brokered the deal.
Buxton: Jared Laniewski purchased 129 Webster Rd., a 20,000 s/f residential/industrial building, from Steve Reynolds for $710,000. Asher Chappell of Maine Realty Advisors and Donna Saxby of Keller Williams brokered the deal.
Portland: Champlain, LLC purchased 160 State St., a 130,00 s/f multifamily building, from Thanos LLC for $3.35 million. Soley of Maine Realty Advisors and Tim Millett of Porta & Co. brokered the deal.
South Portland: Legend’s Residential Care LLC leased 324 Cummings Rd., 3,753 s/f of office building, from HHH, LLC for $259,032. Asher Chappell of Maine Realty Advisors and Tom Moulton and Kattie Breggia of The Dunham Group brokered the deal.
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
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
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.
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
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