2026 Spring Preview: Dwight Feeney, Rockland Trust Bank

What trends or market activity are you seeing as we move into the spring season? New Hampshire CRE is shifting from caution to strategic momentum this spring. A “flight to quality” drives activity, focused on three trends:
1. Adaptive Reuse: Office-to-residential conversions and mixed-use hubs in Manchester and the Seacoast are outperforming standalone offices.
2. Industrial Strength: Demand remains high for S. New Hampshire flex space due to the state’s tax advantage.
3. Necessity Retail: Grocery-anchored and service-oriented centers see high occupancy.

Spring 2026 is about resilience, with capital targeting New Hampshire assets that fit how we live and work.

What opportunities or challenges do you see shaping the commercial real estate landscape over the next several months? In 2026, New Hampshire CRE is shifting to strategic execution. Key drivers include:
Opportunities:
• Industrial/R&D: High demand for flex space as firms flee high-tax states.
• Essential Retail: Grocery and medical-anchored centers show strong resilience.
• Lifestyle Clusters: Mixed-use nodes drive a need for localized amenities.

Challenges:
• Costs: Material price volatility requires rigorous planning.
• Valuation Gap: Maturing debt faces gaps between current values and old financing.
• Labor: Shortages and zoning hurdles extend timelines. 

Success requires selectivity.