News: Northern New England

White of CBRE|Portsmouth and Young of CBRE|The Boulos Company lease 17,802 s/f

Kent White of CBRE | Portsmouth and Craig Young of CBRE|The Boulos Company represented the tenant, Goodwill Industries of Northern New England in negotiating a long-term lease at 720 Lafayette Rd. The building is in the process of being built and will be constructed to Goodwill's specifications. The landlord, 750 Lafayette, LLC, also plans to further develop the site to include additional retail/restaurant space. 720 Lafayette Rd. was the home of the former Bournival Jeep Car Dealership. The dealership has relocated to 2355 Lafayette Rd. CBRE | Portsmouth is an affiliate office of CBRE Group, Inc., (CBRE) the world's largest commercial real estate services company. This strategic partnership combined national resources with regional control and ownership to offer our clients a balanced service platform. CBRE | Portsmouth services the Seacoast and I-95 corridor and works closely with nearby CBRE | New England offices in Manchester, New Hampshire, Portland, Maine, Boston, Massachusetts, New Haven, Connecticut, Hartford, Connecticut and Providence, Rhode Island. For more information please visit our website at www.cbre.com/portsmouth.
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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