News: Northern New England

Vadney joins Engelberth

TJ Vadney has joined Engelberth Construction as director of business development. His experience includes his role as a preconstruction manager, virtual construction manager and project manager for a well known national contractor. He also has experience as an adjunct professor at Worcester Polytechnic Institute developing course content for the Graduate School of Engineering. TJ is an effective negotiator who enjoys identifying client needs and his wide range of skill sets will make him a valuable asset to our organization in the NH market. Vadney is a board member for the YMCA of Greater Nashua, Green Building Committee member of the Manchester Chamber of Commerce, coordinator of the Revit Users Group of Boston, member of the Associated Builders and Contractors of NH/VT as well as other affiliations and community involvements. He received his BS in Civil Engineering at Norwich University, Military College of Vermont and his MBA at Southern New Hampshire University. Vadney lives in Merrimack, NH with his wife Karen and two young children and his interests include sailing, skiing, soccer, golf, and architectural design. Engelberth Const., is a construction manager/general contractor with full-service offices in Colchester, Vermont and Keene, New Hampshire. The company employs approximately 160 people on projects throughout Vermont, New Hampshire, northern New York and Massachusetts.
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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
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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. 

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.

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
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