News: Northern New England

O'Brien and McMahon of NAI Norwood Group lease at Pinkerton Place

NAI Norwood Group has signed two lead tenants for the new retail development project at at 17 Manchester Rd. Pinkerton Place, has received approvals for 49,000 s/f of retail space on 8.5 acres and is under construction. Pinkerton Place is a retail project located at the corner of Manchester Rd. and Ashleigh Dr. in front of a fully approved Wal-Mart supercenter, scheduled for completion in 2012. The project has started with the renovation of the 19,000 s/f former Allen Motors building and the demolition of the 14,000 s/f former Dave Allen Sales and Service building. The renovation of the 19,000 s/f building makes way for a regional specialty pet super-store and the demolition of the Dave Allen Sales building clears the way for what will be a brand new 16,000 s/f Goodwill Retail Store. Goodwill Industries of Northern New England recently signed a lease and received all municipals approvals for this new location. Brian O'Brien and Chris McMahon of NAI Norwood Group's Portsmouth office represented the landlord, Boomer Wolf, LLC. Craig Young of CB Richard Ellis|The Boulos Company represented Goodwill Industries of Northern New England. In 2010, NAI Norwood Group represented the developer, Boomer Wolf, LLC in the acquisition of the two abutting car dealership properties. To read the Oct, 2010 story visit http://nerej.com/43110 Pinkerton Place - 7 Manchester Road - Derry, N.H.
MORE FROM Northern New England
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
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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