News: Northern New England
Posted: March 3, 2017
Waterstone breaks ground on Portsmouth Green and The Veridian
Shown (from left) are: Bill MacDonald, Portsmouth Chamber; Jack Blalock, mayor of Portsmouth; Bruce Percelay, Mount Vernon Co.; Jay Bisognano, Torrington Properties; Josh Levy, Waterstone Dev.; and David Snell, PCAPortsmouth, NH Waterstone Retail Development and the Mount Vernon Companies introduced Portsmouth Green and The Veridian residences at the kick-off ceremony on January 26. City officials, tenants, retailers, brokers, Portsmouth Chamber of Commerce members, community groups and more celebrated the official launch of Portsmouth Green, unveiling its new name, logo, residences and vision for the future.
Formerly known as Southgate Plaza on Lafayette Rd./Rte. 1, Portsmouth Green is a mixed-use complex currently evolving from a neighborhood convenience plaza to a regional retail, dining, entertainment and residential destination.
According to Josh Levy, principal of Waterstone, “We hope not only to complement the offerings in downtown and Newington, but to also further attract visitors to the Sea Coast by creating that ‘experiential’ atmosphere essential to an entertainment driven destination. With an extraordinary tenant mix, ample parking, luxury apartments and future home of an exciting outdoor arts and entertainment program, Portsmouth Green will enhance the Gateway District!”
With more than 170,000 s/f of retail space, Portsmouth Green is currently home to local and national retail tenants such as Cinemagic, McKinnon’s Supermarket, Petco, Cycle Fierce, Shio Japanese, Orange Theory Fitness, Peachwave Frozen Yogurt, Linda Taylor Boutique, Hand and Stone Spa and Me and Ollie’s bakery. Slated to open this year are Pure Barre and Starbucks.
The Veridian residences, slated to open in August, will feature 94 luxury apartments with designer kitchens, 9 foot ceilings, fitness center, bicycle stations and pet friendly amenities. Studio, one-bedroom and two-bedroom units are equipped with washers, dryers, silestone countertops and stainless steel appliances. The apartments are designed and developed by the Mount Vernon companies of Boston.
Tags:
Northern New England
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
Quick Hits
Columns and Thought Leadership
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
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
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.
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