News: Northern New England
Posted: January 8, 2021
Robbins of Colliers International handles $475,000 sale of two bldgs.
Manchester, NH Colliers International completed the sale of 883-885 Second St. Andrew Robbins, of Colliers’ Manchester office, represented the seller and Jay Lee, of Berkshire Hathaway, represented the buyer, International Car Parts of NH in the transaction. According to the Hillsborough County Registry of Deeds, the property sold for $475,000.
The two-building property consists of a 2,604 s/f retail building and a 1,849 s/f single unit apartment building on .26 acres. The retail building was most notably home to Perfecta Camera and subsequently Ritz Camera for over 20 years. The building was then converted into a fish market and most recently was home to Greenlife Garden Supply.
For over 30 years, specialists in automotive repair have relied on International Car Parts for foreign automotive parts. International Car Parts of NH will move from Lake Ave. to this new location on Second St. and is looking forward to increasing its visibility and presence in the city.
Tags:
Northern New England
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
Columns and Thought Leadership
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
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
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
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.