News: Northern New England

Waters of Lang McLaughry leases 4,800 s/f to Stonecliff Animal Clinic

Bruce Waters, CCIM, senior broker for LANG MCLAUGHRY COMMERCIAL, completed a long-term lease between 227 Mechanic Street Properties, LLC and Stonecliff Animal Clinic, LLC. The lease is for 4,800 s/f and is located at 227 Mechanic St., just off of I-89, Exit 19. Currently, Stonecliff Animal Clinic is located on Evans Dr. in Lebanon, but when this new facility became available, the size, location and current condition was ideal for Stonecliff's expansion. In accordance with their website, "Stonecliff Animal Clinic was established in 1990 in Bradford, Vt. and relocated to Lebanon in 2010." Owned and operated by Daniel Kelly, Stonecliff Animal Clinic provides excellent choices for health care to small animals. Waters said, "227 Mechanic St. is a conveniently located facility with quality tenants, ample parking and easy on/off of I-89." After minor renovations, the clinic is scheduled to be open in late summer.
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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. 

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
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