News: Northern New England

Paul McInnis, Inc. leases 6,336 s/f at 10 Mohawk Drive

A former daycare facility located at 10 Mohawk Dr. will be repurposed for a similar use as Recreational Education Center (REC) enters New Hampshire and opens their second location. The 6,336 s/f building on 2 acres was a prime choice for REC as they searched for the right location to open their next facility. Chris McInnis of Paul McInnis, Inc. represented the landlord, Realty Income Corp. of Escondido, California. Ronald Fredette of Keller Williams Commercial represented the tenant. "This was the ideal location and situation for REC to come to New Hampshire with a landlord willing to work with their growth strategy. The center will be a beneficial addition to the Londonderry market," said McInnis. When asked why the REC was opened, owner and executive director, Tricia Woolard M.S.Ed., BCBA said, "I envisioned offering a year-round program that would be available to families seven days per week... The center today offers so much more than seven days per week of programming; it offers a truly specialized experience for all students. It has opened the doors for children with special needs to engage in similar experiences as their peers."
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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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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. 

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
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