Portsmouth, NH A 65,000 s/f commercial office space is underway at 75 Portsmouth Blvd. Locally-based developer The Kane Company is the owner, and PROCON of Manchester, is the designer and construction manager. The 3-story building abuts Commerce Way near I-95 and the Spaulding Turnpike and is about five minutes from the city’s downtown area.
New construction will feature a modern design with flexible floor spaces for tenants, and sustainable elements for energy efficiency, along with an outdoor patio and parking for 425 vehicles. For visual interest, PROCON’s architectural team designed a brick masonry base while the two upper floors alternate between titanium and russet-toned metal paneling. The first-floor entrance features a 2-story storefront entryway encased in glass. An abundance of Solarban tinted glass was incorporated throughout the design for minimizing UV rays while allowing in the sunlight.
The Kane Company president and CEO Michael Kane and PROCON’s chairman and CEO Mark Stebbins have worked together on multiple buildings over a 28-year period.
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.
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.