
NAI Norwood Group
Manchester, NH NHCIBOR held their 3rd annual awards ceremony on June 20th to benefit their chairty NHCIBOR Cares. Three award recipients are part of their team. Judy Niles-Simmons and Perry Snow tied with Brian O’Brien for the 2016 Retail Transaction of the Year. Joe Mendola took home the 2016 Investment Transaction of the Year.
Niles-Simmons and Snow have been working on the Center View Plaza project in Manchester, formerly known as Lowe’s. The 100,000 s/f Huse Rd. building has been subdivided and partially leased. Leases include Chunky’s Cinema and Cowabumga’s.
O’Brien sold the former Walmart on Keller St. last July. The 118,000 s/f building incited a bidding war. Ultimately it was CarMax that bought the site for just over $11 million.
Mendola brokered a transaction between Granite Clover Self-Storage and National Storage Affiliates Trust that consisted of a five property portfolio. The transaction was valued at approximately $28.8 million and consists of 235,000 rentable s/f with 1,900 self-storage units.
The mission of NHCIBOR Cares is to help assist various organizations and individuals in need during emergency situations. Having been in existence for just a few years, NHCC has contributed to over almost two dozen local and statewide causes on behalf of the members who support the NHCC mission. NHCC also awards a Community Service Award at the NHCIBOR annual dinner. NHCC Committee membership is open to any Realtor or affiliate of NHCIBOR, and is encouraged.
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.
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.