Northern New England

July 2023 CIBOR president’s message: - by Matthew Bacon

Summer is here and in full swing! As we enjoy the beauty and many resources that NH has to offer, especially at this time of year, many of us gather for an annual tradition to build and foster relationships, recognize achievements, and just have some fun at our annual summer kick-off – the NHCIBOR annual BBQ and ROTY/AOTY presentation.

Project of the Month: DeStefano & Associates completes 110,000 s/f warehouse addition for Stonewall Kitchen

Dover, NH In February 2023, DeStefano & Associates, Inc. (DAI) completed another warehouse addition on Mast Rd. to be occupied by Stonewall Kitchen. The project team consisted of Summit Land Development, developer; JSN Associates, architect/engineer; and DAI Construction Manager.

Saugatuck Commercial Real Estate and The Boulos Co. represents MMP in third New England lease totaling 7,901 s/f

Portland, ME Mangrove Management Partners and The Vascular Care Group leased 7,901 s/f of medical space from 400 Southborough, LLC at 400 Southborough Dr. Penny Wickey, principal, Saugatuck Commercial Real Estate along with Drew Sigfridson and Claire Richardson of The Boulos Company represented the medical group.

Marsden RE launches Port Property’s first for-sale residential community

Biddeford, ME Port Property, in partnership with Marsden Real Estate/Bean Group, is launching its first for-sale residential community: Landing on the Levee. Scheduled to begin construction this summer, Landing on the Levee will bring a curated selection of for-sale properties to the company’s mixed-use development, The Levee.

Day’s Jewelers expands headquarters to 10,972 s/f space at 21 College Avenue

Waterville, ME The corporate office for Day’s Jewlers has been located at 88 Main St for 20 years. With the office’s lease up for renewal in May 2023, and an expanding corporate team with a growth mindset, the company embarked on a mission to find a new location that would accommodate an increasing number of staff members.

Elm Grove Companies to convert 96 apartments to affordable housing

Rochester, NH Real Estate development firm Elm Grove Companies is renovating Country Brook Apartments, converting 96 market-rate apartments to a workforce housing community at 68 Hemingway Dr. Utilizing a relatively new income averaging program under the federal Low-Income Housing Tax Credit (LIHTC) program rules, the renovated units will provide homes to families who earn between 20% and 80% of Area Median Income (AMI)

CBRE completes sale of Holiday Inn Express & Suites Manchester-Airport

Manchester, NH CBRE today completed the sale of Holiday Inn Express & Suites Manchester-Airport located at 1298 S. Porter St. The hotel was acquired by Manchester Hospitality.  CBRE’s Dave McElroy and Scott Hutchinson of CBRE Hotel Brokerage and Investment Sales represented the seller, the Singer family of Manchester, during the transaction. 

DECCO, Inc. releases Virtual Design Solutions

Nashua, NH DECCO, Inc. has released its newest service 3D Laser Scanning & Virtual Design Solutions. DECCO’s new 3D Laser Scanning & Virtual Design Solutions supports projects with 3D scanned models and point clouds to integrate piping models and skidded systems into generated virtual environments supporting Building Information Models (BIM).

Harnden joins The Dunham Group as partner and broker

Portland, ME Jim Harnden has joins The Dunham Group as broker and partner. Harnden comes to the Dunham team having over 35 years of experience in Maine’s commercial real estate market. Harnden has been president of Harnden Commercial Brokers. Harndens’s focus and expertise is tenant representation, having worked with some of the leading companies in our market – including large national, regional and local companies.

Port One Companies continues work on Granite Woods - 500,000 s/f development

Hooksett, NH According to Newmark, construction continues on Granite Woods Commerce Center, an industrial development spanning 500,000 s/f at 47 Hackett Hill Rd. With 90% of site work complete, construction of the class A building is well underway and targeting an early 2024 delivery.