We worked with a family that owned an apartment building and all the siblings had different goals and agendas they each wanted achieve. We were able to quickly and efficiently sell the apartment building and our 1031 Exchange desk was able to facilitate the replacement property, helping the family acquire a single tenant net leased passive income property.
The sale of a 10-acre development site in Cumberland, RI that took 2.5 years to close, but most notably, I grew up in town and the buyer and seller were both friends from high school, on either side of the deal.
Two big projects standout for us: One was a commercial property portfolio on which we were able to work very closely with the property owner, their lender and various other interested parties to bring the transactions to completion. The other was a bank-owned estate in Southern Connecticut–it was the largest single family transaction in that area in 20 years.
As a construction company working in multiple sectors, we try to keep an eye on trends across all markets. I would say that from our perspective, all of these markets continue to look very strong. Commercial real estate accounts for a majority of the facilities and properties that our clients choose to occupy and develop, we are optimistic and enthusiastic about these areas.
The diverse commercial real estate base of properties available for sale/lease and opportunities for redevelopment on existing parcels in Warwick all point to our continued economic growth. In recent months, we have seen well-established companies decide to relocate to Warwick because of the wide range of options available. In addition, the number of small businesses, which are the backbone
New England’s longest lasting growth run continues and 2019 risk strategies will include watching for disruptions. Rising construction costs will be the story of 2019 as supplier margins pressurize. Labor force participation will defy national trending while restraints on supply add risk. GDP growth rate decline is predicted to continue through 2020.
The uptick in the interest rates will place downward pressure on pricing. I also feel locally the market will continue to be robust but with some caution toward lending. Vacancy and bad debt will be real and accountable on the projected budgets for both the banks and clients. Rents will continue to stabilize and developers will need to provide concessions and discounts
Our team repositioned two of our first-class properties in southern N.H., one of which was vacant at the time of our acquisition. Capitalizing on the uptick in activity in the Nashua market, we leased over 130,000 s/f at these two buildings in a 10 month span, bringing both to 100% occupancy with long-term, credit tenants.
We really grew the firm this year and I think my greatest professional accomplishment, or at least the one I’m most proud of, is the mentoring and coaching I was able to provide to our younger agents.
Being able to pass along my commercial real estate experience and the knowledge I’ve gained from my 13 years of real estate transactions, has been extremely rewarding.
For over 25 years, Ballardvale Office Park in Wilmington, Mass. has relied on U.S. Pavement Services to maintain their 340,000 s/f parking lot. This year we had just one weekend to clean, crackfill, sealcoat, and stripe the property, while ensuring everything was complete by Monday morning. Providing superior customer service while
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