Northern New England
Cobb of Colliers and Mitchell of Malone Commercial lease 5,150 s/f
Biddeford, ME According to Colliers, a global leader in commercial real estate services, Colliers Engineering and Design has leased 5,150 s/f at 234 Main St. Mike Cobb, of Colliers in Maine, represented the tenant and Brandon Mitchell, of Malone Commercial Brokerage, represented the landlord.
Spencer of Maine Realty Advisors sells two properties
Belgrade, ME Manchester Self Storage, LLC purchased a five-acre parcel at 210 Augusta Rd. from Ronald and Diana Bellavance for $275,000. Ben Spencer of Maine Realty Advisors and Dennis Wheelock of KW Commercial brokered the deal.
Adapting to change - by Bill Pastuszek
As the warmth and hopeful prospects of the holidays and the New Year are in the rear view mirrors, the hard work starts in trying to understand what the year portends. Now two months into 2023, there are high points and there are pain points to be discussed.
Instead of building houses, we are building scarcity - by Thomas House
There is considerable discussion of housing underproduction in the United States, and this is a particular problem in New England that comes with a benefit for homeowners (manufactured scarcity) at a cost for the region. This cost of underproduction is measured in:
Greater Portland retail market vacancy rates continue to drop - by Peter Harrington
The Greater Portland retail market continued to remain on solid footing in 2022. The vacancy rate dropped about 1% from 2021 to 4.23%. The same can be said for the national vacancy rate. Nationally, at the end of Q3, the vacancy rate stood at 4.3%, down from 20% just a couple of years ago during the height of the pandemic.
Martin of Colliers named one of company’s top producers - inducted into the exclusive 2022 Everest Club
Manchester, NH According to Gil Borok, president and CEO of leading global commercial real estate services firm Colliers, Doug Martin of its Manchester, office has been inducted into the 2022 Everest Club. The Everest Club recognizes the top 10% of all Colliers professionals in brokerage, valuation, and corporate solutions in the U.S. based on revenue production.
Chittenden County, Vermont: Local companies grow and the housing struggle - by Doug Nedde, Jaeger Nedde, and Fernando Cresta
Chittenden County, Vermont, like much of the United States and the world, has experienced a volatile commercial real estate market since the pandemic. Industrial space and apartments are experiencing upward pressure in demand and rents, while retail and the office market continue to struggle compared to pre-pandemic numbers.
Overdeput of Colliers sells 26,000 s/f industrial/flex for $2.4 million
Derry, NH Colliers has completed the sale of the 26,000 s/f industrial/flex building with 8,000 s/f of office space at 4 Tinkham Rd. to Wrap City. Hugo Overdeput, of Colliers’ Manchester office, procured the buyer, G&P Holdings, LLC. According to the Rockingham County Registry of Deeds, the sale price was $2.4 million.
Maine Realty Advisors brokers seven sales and one lease totaling $6.475 million
Saint Albans, ME Nathan Beaulieu purchased 181 Springer Rd. a 1,000 s/f residential building, from Scott and Jennifer Smith for $310,000. Ben Spencer of Maine Realty Advisors and Erin Levesque of Real Estate 2000 ME/NH brokered the deal.