News: Northern New England

North Branch Const. completes $5 million Squamscott Block project for New England Workforce Housing, LLC

North Branch Construction has completed construction of the new $5 million Squamscott Block several weeks ahead of the contract schedule. North Branch Const. served as construction manager for the project, which is owned by the New England Workforce Housing, LLC. The new building is located on Water St. in downtown Exeter at the site of a former parking lot. Due to the location of the property (abutting a bank on one side, town hall on the other and a church behind), the construction was completed in three phases. Phasing of the project was designed to keep the abutting bank in full operation during construction. With the construction nestled between buildings in downtown Exeter, a helical shoring system was used so foundations could be dug and poured without affecting the nearby buildings. Using the helical shoring system, the foundation excavation was dug in stages. The helical shafts were screwed into the soil and a large washer placed over the shaft. A layer of shoring fabric was installed over the washer with an additional washer anchored in place to secure the fabric in place. Once this layer was secure, the next level would be dug and anchored. With the foundations complete, the helical shoring system remained in place, buried with the foundation backfill. The new four-story, 32,600 s/f building includes 2,600 s/f of retail space on the first floor and 30 mixed-income apartment units on the remaining three floors with a structural steel and concrete parking deck. The building was designed by Archetype, PA of Portland to fit in with existing structures in the area, with brick veneer and precast concrete, and was designed to meet Energy Star standards for mixed market rate and subsidized rate apartments. North Branch Const., one of the largest construction firms in the state of New Hampshire, has been serving the commercial and residential needs of its clientele since 1958. Recent projects include the Summer Dining Hall renovations project at the UNH in Durham, the new 36,300 s/f Aerohex Aircraft Hangar at the Manchester-Boston Regional Airport in Manchester and major HVAC upgrades and re-roofing project at the N.H. Community Technical College at Pease Tradeport in Portsmouth.
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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
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. 

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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
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