News: Northern New England

Shea Commercial Properties sells 21,276 s/f office to Kang Enterprises for $1.3 million

Harry Shea of Shea Commercial Properties, Inc. sold 63 Range Rd., a 21,276 s/f free standing professional office building. Kang Enterprises, LLC has purchased the multi-tenanted building from J. Bucciarelli, LLC. The building was previously occupied by Stephens & Michaels who relocated. Kang Enterprises will occupy space in the building for their service business and continue to lease the remaining suites for professional business office, medical office or service type tenants. The 3-story building has signature architecture detail, open hearth fireplace's in the main business office, elevator access. The building is occupied by medical office users, a salon and offers professional business office space for lease. The building is on 1.96 acres and is located on Rte. 111A, and is near to Rte. 93, exit 3. Financing was provided by Bank of New England, the Registry of Deeds reported a sale price of $1.3 million. Beverly Donavon and Hugo Overdeput from Grubb & Ellis Real Estate Advisors represented the seller, Shea Comm'l. represented the buyer.
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Ask the Electrician:  How do I prepare my commercial building for a disaster?

Ask the Electrician: How do I prepare my commercial building for a disaster?

New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary