
Manchester, NH Michael Reed, president of Stebbins Commercial Properties LLC, completed the sale of the 8,709 s/f building at 555 Valley St. from The Packard Building, Inc. of Manchester to Cote Electric LLC of Manchester.
Reed represented the seller and assisted the buyer. According to the Registry of Deeds, the sale price was $635,000.
In another transaction, Tom Dickson, commercial real estate agent for Stebbins Commercial Properties LLC leased 7,372 s/f at 522 Donald St. in Bedford, from 522 Donald Street Assoc. LLC to The Atlantic Way.
Dickson represented the landlord and The Masiello Group represented the tenant.
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 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.