News: Northern New England

Pro Con is architect/construction manager for $5.2m Fairfield Inn and Suites

Pro Con Inc. is the architect and construction manager for a new $5.2 million Fairfield Inn and Suites by Marriott being developed at 8 Bell Ave. The new hotel, which is located off I-93 at exit 9, is owned by Hanish, LLC of Brockton, Mass. The 3-story, 59-room hotel will offer traditional hotel rooms with either king or queen beds and some suites with living areas and a microwave, mini-refrigerator and coffee maker. The hotel will include an indoor pool and fitness room and a morning breakfast bar and lounge area with a fireplace. Pro Con began site work on the project in July and has scheduled a March 2008 completion date for the new Marriott hotel. Pro Con Inc., a leader in hotel design and construction, recently completed a 122-key Residence Inn by Marriott in Worcester, Mass. and a 131-key Hilton Garden Inn and a 108-key Homewood Suite by Hilton, both in Portsmouth, N.H.
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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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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
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.