News: Northern New England

North Branch Construction completes middle school, continues on high school and tech center

North Branch Construction completed additions and renovations to the Kingswood Middle School in March. North Branch continues work on the high school and technical center. Current projects in the high school include a lecture hall, two audio/visual studios - one which will be the home of Wolfeboro Community Television, a wood shop, an exercise/weight room, and a dance studio. The technical center will see new child care, healthcare, and electronics and machine tools sections this month. Modular classrooms will be removed during Spring Break vacation and final sitework will take place during this time. Final paving will be done when students begin their summer vacation on June 22. Construction remains ahead of schedule and North Branch expects to have all three schools complete by early this summer.
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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
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. 

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.

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