News: Northern New England

Waters of McLaughry Commercial brokers 10,000 s/f lease for Ice Engineering's new corporate headquarters

Bruce Waters, CCIM, senior broker for McLaughry Commercial, negotiated the recent long-term lease for the new corporate headquarters of Ice Engineering at 5 Technology Dr. Assisting with this very important transaction was Terry Boone, commercial broker for C-21 Energy Shield, representing Ice Engineering. Ice Engineering is in the business of inventing, developing and licensing revolutionary technologies impacting all things having to do with controlling and managing ice. The company is primarily focused on dramatically reducing the energy consumption and manufacturing cost of a wide range of consumer and commercial products. Ice Engineering was originally founded by Dr. Victor Petrenko in 2001 as a faculty member of the Dartmouth College Thayer School of Engineering and director of their Ice Physics and Technology Laboratory. Ice Engineering occupied their new 10,000 s/f corporate headquarters in March, after renovations provided by Estes and Gallup Contractors of Lyme. Waters said, "5 Technology Dr., in the Lebanon Business Park, is one of the Upper Valley's finer office/R & D facilities with commanding views along the Connecticut River Valley. According to municipal records the building is owned by a local real estate holding company named HOCO A, LLC."
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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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Columns and Thought Leadership
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