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News:
Northern New England
Posted: March 3, 2023
DeStefano & Associates, Inc. begins 45-unit condo project
Cumberland Foreside, ME DeStefano & Associates, Inc. has started the construction of a 45-unit condo project off Rte. 1. The four-story structure will contain one- and two- bedroom condos, underground parking, workout room, community area, and car charging port.
Completion is scheduled for spring 2024. The owner/PM is Shinberg Consulting and the architect is Mark Mueller Architects.
Epping, NH DeStefano & Associates, Inc. (DAI) has completed the design and construction of two multi-family buildings at Verdant Pastures on Ladds Lane. Future development of the master plan will include facilities for banquets, child and adult daycare, memory care medical office and multi-family uses. The architect is Lassel Architect and the site engineer is Jones & Beach.
Manchester, NH DeStefano & Associates, Inc. (DAI) has started the design and construction of a 3,000 s/f lab on Sundial Ave. for Nylon Corp. of America. This new space will consist of a research and development lab, conference room, offices, and storage space. The architect is Stephen Fleshman Architects, LLC. Completion is estimated to be this spring.
Derry, NH DeStefano & Associates, Inc. (DAI) has been awarded the fitup of a new 2,500 s/f Aspen Dental. Excel Engineering Inc. is the architect. Anticipated completion is this spring.
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Northern New England
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
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.
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
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
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.