News: Northern New England
Posted: April 2, 2021
Marcus & Millichap brokers sale of 58,064 s/f Creative Self Storage
BRENTWOOD, NH Marcus & Millichap brokered the sale of Creative Self Storage, a 58,064 s/f self-storage facility, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.
Nathan Coe, Brett Hatcher, and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, listed the property on behalf of the seller. James Koury, broker of record, assisted in closing this transaction.
Nathan Coe, the lead broker on the transaction, said, “I was extremely happy to help the sellers get their price and complete this transaction. They tried selling for some time in the past and we were able to help secure the right buyer at a strong price. Our list to close process was just over three months and it was a great process all the way through. The buyers acquired a large, very well run and maintained site with a lot of upside.”
Creative Self Storage is located at 321 NH-125. This property features 34 climate-controlled units, 357 non-climate-controlled units, and four offices, totaling 58,064 net rentable s/f. They also offer 23 parking spaces for rent.
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.
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
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.