News: Northern New England

Weeks Associates leases 8,100 s/f to Consolidated Electrical Distributors

Citing an opportunity to develop new business in northern New England and central New Hampshire, Consolidated Electrical Distributors has recently leased space in a Rte. 11 strip mall. Under a five-year lease, Consolidated Electrical Distributors (CED) will occupy 8,100 s/f in the former State of New Hampshire Liquor Store location on Old Lake Shore Rd., adjacent to the movie theatre. With several vehicles and a staff of approximately seven people, Consolidated Electrical is poised to embrace a demanding and rebounding new building and renovation marketplace. CED is the exclusive area distributor of Square D products, a preeminent American manufacturer of electrical controls and distributors. According to general manager Mike Mains, the contractors in the area have extremely tight schedules and meeting their delivery demands is key to CED's success. "Our customers are contractors who are working on tight deadlines. Time is money. Only CED can provide delivery of electrical supplies the same day the order is placed. Same-day service is what sets us apart from other wholesale distributors. Our mission is to simply deliver the best products in a more timely manner." Kevin Sullivan of Weeks Associates Commercial Realtors, brokered the deal for CED, with Summit Realty Partners of Lexington, Mass., representing the building's owner. The managing broker for Summit Realty was Frank Normandin, who grew up in Laconia and retains local family and business connections in the Lakes Region area.
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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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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
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.

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