News: Northern New England

Nubi River Partners develops "green" Nubanusit Neighborhood & Farm

Nubanusit Neighborhood & Farm will have its first residents in November. The neighborhood, which was developed by Nubi River Partners, LLC, is a new type of housing development, known as "co-housing." It's part old-fashioned neighborhood and part town square. The developers are Robin and Shelley Hulbert, Richard Pendleton and Sage Wheeler. The builder is Bruss Construction and the architect is Sheldon Pennoyer of O'Neil Pennoyer Architects. About half of Nubanusit's 29 units are already sold. Home styles in the neighborhood range from single-family to duplexes and one-floor condominiums, from 863 to 1,888 s/f. Amenities include extra space in several common areas, including 70 acres of farmland, woods and river front—all owned by the residents. The common house provides a place to play, and professional office space in a renovated historic farmstead is available for resident use. The neighborhood's "green" technologies include a central pellet-fired heat plant, highly insulated building envelopes and solar hot water collectors. The duplex homes are registered for the United States Green Building Council's LEED Platinum Certification, the highest rating awarded.
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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
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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. 

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