News: Northern New England

Choquette named VP of Gilbane Bldg.; Northern New England area manager

Gilbane Building Company has named Paul Choquette III as vice president. A member of the fifth generation of the Gilbane family, Choquette serves as area manager in the company's Northern New England office, leading business operations and sales activities. Choquette joined Gilbane's Manchester office in 2005 as business development manager, responsible for the firm's sales efforts in New Hampshire. Prior to joining Gilbane's New England business development team, Choquette went through the Gilbane Management Training Program, gaining exposure in purchasing, scheduling, and other key support services. Choquette also worked for the company's Northeast region as a project superintendent at the $221 million AstraZeneca U.S. Business Center project in Wilmington, Delaware.  Other significant projects he has helped construct include: Eastern Maine Medical Center Master Plan, US Postal Services Northeast Maine Facilities, Fidelity Investments, Inc. Merrimack projects and Mid-Coast Hospital Medical Office Building II. He graduated in 1997 from Brown University with a bachelor's degree and was awarded the Thomas & William Gilbane Project Achievement Award in 2006.
MORE FROM Northern New England

Reveler Development celebrates final phase of work at The Levee - new 51-unit apartment building in Biddeford

Biddeford, ME Reveler Development has begun construction on 10 Upper Falls Rd., the fourth and final phase of Reveler’s master-planned development in downtown,The Levee. “We’re thrilled to embark on this major milestone at The Levee,” said John Laliberte, CEO of Reveler
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Columns and Thought Leadership
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
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. 

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