NAI Norwood Group
Bedford, NH NAI Norwood Group completed the sale of 5,997 s/f of office space located at 116 South River Rd., building D, for $685,000.
Louise Norwood, Karl Norwood, and Chris Norwood of NAI Norwood Group represented the seller, Vasilios Realty Trust, and Colliers International represented the buyer, Dow Holdings, LLC. The office space consists of three condo units within a larger office condo complex. The price tracks with a historical rise of prices throughout the market at just over $110 per s/f. “Activity in the office sector for leasing and purchasing remains brisk. For those looking to purchase, the inventory in the greater Manchester market remains thin,” said Chris Norwood, president of NAI Norwood Group.
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 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.