News: Northern New England

NAI The Dunham Group brokers two sales totaling 21,224 s/f and $691,500

NAI The Dunham Group has completed the following transactions: * 8 Heathwood Dr., Windham: 12,584 s/f industrial/mixed-use building sold to Two Eisenhower Drive, LLC for $319,000 by Hammer Fitness, LLC. Justin Lamontagne, Sylas Hatch and Greg Hastings, SIOR from NAI The Dunham Group brokered the sale, which closed on April 23. * 15 Shaker Road, Gray: 8,640 s/f office building sold to 15 Shaker Road, LLC for $372,500 by 26 Main Street, LLC. Lamontagne and Brad Moll from NAI The Dunham Group brokered the sale, which closed on April 7.
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Northern New England

PROCON and Hitchiner break ground on 57,000 s/f shared services operations facility

Milford, NH Hitchiner, in partnership with PROCON’s integrated design and construction team, has officially broken ground on a new 57,000 s/f shared services operations facility at its Elm St. campus. This building will house value-added services used across Hitchiner’s various business units,
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Columns and Thought Leadership
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
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.