News: Northern New England

O'Brien and White of CBRE|NE broker 4 leases and 1 land sale

Margaret O'Brien and Kent White of CB Richard Ellis/New England's Portsmouth office have negotiated 4 leases totaling over 16,000 s/f and 1 land sale. * O'Brien negotiated the sublease of 1,865 s/f of office space at 14 Manchester Sq. at the Pease International Tradeport to Allegiance Hospice. She represented the sublandlord, RES Title, and procured the tenant. * O'Brien also negotiated the lease of 4,500 s/f of office space at 30 Penhallow St. to Pensco Trust Company. She represented the landlord, Coventry Assets. David Choate of Grubb & Ellis| Coldstream Real Estate Advisors represented the tenant. * O'Brien leased 8,790 s/f of office space at 755 Banfield Rd. to Community Developmental Services (CDS). She represented the landlord, 755 Banfield, LLC. Robert Marchewka of The Kane Company represented the tenant. * White leased 1,736 s/f of office space at 224 State St. to ADM Promotions. He represented the landlord and procured the tenant. * White sold 10.7 acres on Jacks Bridge Rd. in Londonderry to Penske Truck Leasing Co. The seller, Freedom Park Associates, sold the land for $1.2 million. White represented Penske and Grubb & Ellis/Coldstream Real Estate Advisors represented the seller.
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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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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. 

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
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.

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