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October 2024 New Hampshire CIBOR president’s message - by Ethan Ash
October 4, 2024
Starting last month, NECPE.com, the website that allows its members to market commercial listings for lease and for sale anywhere in New England, moved to a new and updated platform. This is still powered by Catalyst but now includes some added benefits from the Moody’s CRE partnership. For those who don’t know, Moody’s is a ratings organization
Sterling Bay joins Core Investments for the development of On the Dot - 21-acre mixed-use South Bost...
October 4, 2024
South Boston, MA Core Investments, Inc., a real estate investment and development company, has formed a joint venture with Sterling Bay, a leading national investment and development company based in Chicago
Marsolini named chief strategic officer at DECCO, Inc.
October 4, 2024
Nashua, NH Don Marsolini transitioned from the role of chief financial officer (CFO) to the newly created chief strategic officer (CSO) at DECCO, Inc. With his leadership skills and a strategic vision, Marsolini is poised to help DECCO deliver on its strategic vision as they explore new horizons afforded to them under the Comfort Systems
Dartmouth College launches $500 million
undergraduate housing plan
October 4, 2024
Hanover, NH Dartmouth College has launched a $500 million program to invest in new and renewed undergraduate housing, representing the school’s largest campus housing investment in a generation. College president Sian Leah Beilock has pledged to add a combined 1,000 beds
Northern New England plugs along even with high costs of construction - by Bill Norton
October 4, 2024
So far it has been a beautiful late summer. Of course, we still have the election ahead! The economy and commercial real estate, seem to be rolling along. Employees are being called back to work in the office, some three days a week, some four and some five. Perhaps up to 70-80% of the pre-COVID level. Office user tenants want less space and lower rents. This is hard to achieve as expenses go up,
Skanska promotes Caliva to vice president of development in the U.S.
October 4, 2024
Boston, MA Skanska USA Commercial Development has promoted Mike Caliva to vice president of development in the U.S. In this role, he will take on expanded responsibility within the local office and CDUS and will continue his role leading the teams responsible
DXD Capital holds groundbreaking for
96,238 s/f self-storage facility in Nantucket, MA
October 4, 2024
Nantucket, MA DXD Capital, a private equity investor and self-storage developer, has held the groundbreaking of a new, class A, climate-controlled storage facility. The facility, located at 10 Davkim Ln., offers 667 individual storage units totaling 96,238 s/f and features one-of-a-kind design elements,
Elm Grove Companies breaks ground on $20 million
The Rapids On Cocheco - a 52-unit workforce hou...
October 4, 2024
Rochester, NH Real estate development firm, Elm Grove Companies, has started construction of The Rapids On Cocheco, an approved 52-unit workforce housing community at 29 Wadleigh Rd. This will be the company’s ninth venture in the affordable housing arena with other affordable properties in the state totaling 430 apartments
Patriot Holdings retains The Boulos Co. to lease 40,000 s/f new high-bay industrial/flex facility in...
October 4, 2024
Somersworth, NH Patriot Holdings has delivered another exciting real estate development as the private equity real estate firm expands its presence in New England. In Somersworth, a three-building industrial park is now available for lease and for sale. This industrial/flex facility has the potential for units starting at 1,600 s/f with a potential
Project of the Month: Vivo Architecture and BW Kennedy & Company collaborate to deliver Electric Hyd...
October 4, 2024
Devens, MA Electric Hydrogen manufactures, delivers and commissions the world’s most powerful electrolyzers for critical industries to produce the lowest cost green hydrogen. Earlier this year, Electric Hydrogen celebrated the opening of its new 185,000 s/f state-of-the-art gigafactory, one of the largest electrolyzer factories in the world.
Sullivan Construction celebrates
milestone at Market and Main
October 4, 2024
Bedford, NH Sullivan Construction has reached a major milestone at the Market and Main retail center with the “topping off” ceremony for Building D. The final beam was signed and raised into place, marking the structural completion of the 37,135 s/f building.
The Greater Portland industrial mid-year market update - by Nate Roop
October 4, 2024
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
Ravenelle joins Elm Grove Companies as vice president of development and construction
October 4, 2024
Manchester, NH Aaron Ravenelle has joined real estate development firm Elm Grove Companies as the new vice president of development and construction. Ravenelle brings over 26 years of extensive experience successfully leading development and construction project teams through residential, educational and commercial projects
True Storage completes 10th development
of 2024 with Kmart conversion
October 4, 2024
Hooksett, NH New England self-storage developer, True Storage completed its 10th completion of the year this past week with the opening of its newest CubeSmart conversion. The project is a conversion of a former Kmart that had been vacant for over a decade. The property is located at 1267 Hooksett
Andrews of Nobis Group appointed to American Council of Engineering Companies New Hampshire board of...
October 4, 2024
Concord, NH Tim Andrews, PG, director of state & municipal services at Nobis Group, has been appointed to the American Council of Engineering Companies New Hampshire (ACEC-NH) Chapter’s board of directors. “As a developing professional and project geologist, I recall the importance of involvement
CORE completes acquisition of
24,000 s/f Kittery shopping center
October 4, 2024
Kittery, ME CORE has acquired 360 US Rte. 1. This 24,000 s/f shopping center is in the downtown and is home to Brooks Bros., Talbots, and Sustenance Herbs – a locally based, organic pet food store. The transaction, which closed on August 22nd, marks another deal for CORE’s
Tidemark, PROCON and BOD Holdings
break ground on 135-unit apartment complex
October 4, 2024
Somersworth, NH Tidemark and BOD Holdings LLC have broken ground on a new 135-unit apartment project in downtown. This modern residential project will offer surface parking and amenities. State and local officials, along with members of the community, joined BOD Holdings LLC, Tidemark, and PROCON’s design-build team for a groundbreaking ceremony to celebrate
Faherty opens at Derby Street Shops
September 27, 2024
Hingham, MA Derby Street Shops welcomes the arrival of surf inspired clothing brand, Faherty. Faherty’s new location offers men’s and women’s clothing, from soft loungewear to elevated wardrobe essentials like its popular sun washed tees and legend sweater shirts, along with accessories.