News: Northern New England

KeyPoint Partners LLC named by Heitman LLC to manage and lease 475,000 s/f The Crossings at Fox Run

KeyPoint Partners, LLC has been awarded the property management and exclusive retail leasing contracts for The Crossings at Fox Run, a 475,000 s/f power center. Heitman LLC awarded the contracts. KeyPoint Ptrs. competed against international and regional companies for the assignment, and was chosen from among five finalists, according to Bob Lemons, managing partner at the firm. "Our presentation highlighted the unique quality of our services, our deep knowledge of the regional retail market, and the strength of our teamwork", Lemons said. The Crossings at Fox Run, adjacent to the Fox Run Mall, is located on Woodbury Ave. at Gosling Rd. Tenants include Kohl's, Best Buy, Dick's Sporting Goods, Barnes & Noble, Old Navy, Staples, Jared the Galleria of Jewelry, Michael's, Chipotle Mexican Grill, and Cold Stone Creamery, among many others, and the center includes a 15-screen, stadium seating, surround-sound Regal Cinema. Vice president Alicia Busconi and property manager Rachel Cormier will head the property management team, and vice president Don Mace and leasing associate David Hough will handle leasing, supported by the KeyPoint Ptrs. retail research and marketing teams.
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

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

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
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