News: Northern New England

Windsor Construction tops off $10.6 million addition project

Construction on The Village at Cedar Hill Continuing Care Community expansion project reached a milestone when the new addition was topped off. Workers hoisted the final roof truss to complete the structural frame of the 41,866 s/f addition. Designed by Mackenzie Architects of Burlington, Vt., and constructed by Congress Building Corporation headquartered in Peabody, Mass., the $10.6 million addition will more than triple the existing assisted living space at the award-winning senior care community. The existing Village at Cedar Hill houses 21 one and two-bedroom apartments and common areas in 17,854 s/f. The expansion will add two levels and increase the square footage to 59,720 s/f. The addition will include a 20-patient memory care unit and another 20 independent and assisted living apartments. The lower level will be dedicated to care for those with Alzheimer's and other forms of dementia with 12 private apartments and eight semi-private apartments. There will be a large common area with a kitchen, dining room, living room, multipurpose activity room, salon, greenhouse, art center and a secure outdoor garden area. Common living areas on the second floor will feature a living room, dining room, pub, activity room, fitness center, salon, library and computer center. The Cedar Hill expansion project is scheduled for completion by late January 2015.
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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
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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.