 (1) (1).png)
News:
Northern New England
Posted: February 7, 2025
Horvath & Tremblay sells Chipotle and Aspen Dental location - $3.8m
North Conway, NH Bob Horvath, Todd Tremblay and Jason Woods of Horvath & Tremblay have completed the sale of Chipotle & Aspen Dental. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3.8 million.
The property is located at 1549 White Mountain Hwy. The build-to-suit, two-tenant plaza is improved with Chipotle and Aspen Dental and contains 6,197 s/f on a 1.61-acre parcel. The property was completed in 2021, Chipotle has six years remaining on their lease with four, five-year renewal options. Aspen Dental has nine years remaining on their lease with three, five-year renewal options. Both leases call for rent increases every five-years throughout their primary lease terms and at the start of their renewal options. Additionally, both tenants reimburse their pro-rata share of all operating expenses, repairs, and maintenance of the property, making it an attractive investment for the passive real estate investor. The property is near US Rte. 302/NH Rte. 16 commercial corridor (White Mountain Hwy.) which includes most of the area’s retail, dining, lodging and entertainment options. The property is also located adjacent to the entrance for Settler’s Green, a 75-store, 500,000 s/f shopping center which helps drive traffic to the area.
Tags:
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
.png)
Quick Hits
.png)
Columns and Thought Leadership
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
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
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
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.