 (1) (1).png)
News:
Northern New England
Posted: April 7, 2017
NAI Norwood Group sells 1234 River Road in Manchester for $625,000
Judy Niles-Simmons, NAI Norwood Group
1234 River Road - Manchester, NH
Chris Norwood, NAI Norwood Group
Manchester, NH NAI Norwood Group completed the sale of 1234 River Rd. The 2-acre parcel was formerly a State of New Hampshire owned parcel, subdivided off from the Sununu Youth Services Center. It was most recently used as office space for the state.
Judy Niles-Simmons and Chris Norwood, both of NAI Norwood Group, represented the seller in this transaction. The buyer was represented by Will Kanteres of Kanteres Real Estate. The buyer plans on renovating the space into a religious center for a variety of uses including services, classes, and counseling. The 8,000 s/f building sold for $625,500 according to the Registry of Deeds.
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
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 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.
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