News: Northern New England

TLT Const. named CM for design-build of 30,000 s/f medical office

TLT Construction has been awarded a 30,000 s/f medical office building for St. Joseph's Hospital. St. Joes is a comprehensive healthcare system that serves Greater Nashua, western New Hampshire and northern Massachusetts. "During preconstruction, there's a strong bond of trust that's established among members of the project team," said Tom Kostinden, TLT's president. "Open book accounting keeps the entire team focused and informed." TLT is preparing to begin fast track construction of a 30,000 s/f, design-build satellite medical office building for St. Joseph's Hospital. The building design incorporates high performance energy-rated insulation and dense glass sheathing, and geothermal sources for heat, qualifying it for LEED certification (Bronze-level) upon completion. "This project is all about partnering," said Kostinden. "St. Joseph's management team is very decisive. They insist on local subcontractor participation and we're pleased to accommodate their wishes to make this a spirited, community effort. The city has been very responsive - permitting has been on a fast track with approvals expected within 90 days. And we're working closely with the project architect, Dennis Mires, P.A. of Manchester. The design/build team which was formulated by TLT fits perfectly with the delivery method which was customized to fit the need of St. Joseph's Hospital." "TLT has assembled an outstanding team for this project and I am glad to say that we are ahead of schedule and meeting all of our collective objectives," said Bob Demers, director of operations of St. Joseph's Hospital.
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
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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. 

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.