News: Northern New England

The Valentine Group completes leasing of 24,000 s/f Castle Commons

Windham NH According to The Valentine Group, all of the 24,000 s/f at Castle Commons has been leased. Negotiations have just been completed with several medical practices to expand their services to an 11,400 s/f space in this recently renovated building off I-93 at exit 3. The medical group includes New Hampshire's two largest privately held practices: Southern New Hampshire Internal Medicine and Derry Medical Center, as well as Derry Imaging Center, a National Medical Lab, and a Multi-Specialty Suite. Ralph Valentine of The Valentine Gp. represented the landlord, Mashop Development LLC. The tenant was represented by Brian Morrisseau of The MEG Companies. At a Salem Chamber of Commerce event held on May 3, Dr. Thomas Hong told a crowd of 50 plus "Southern New Hampshire Internal Medicine is very pleased to be returning to Windham." Chris Nickerson, owners' representative for Castle Commons said, "We are very excited about these medical groups coming to Castle Commons."
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Northern New England

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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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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
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
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.

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.