2023 Ones to Watch Rising Stars: Chris McHugh, Erland Construction

What recent project, transaction or accomplishment are you most proud of? Within the last year, I was provided the opportunity to be the lead estimator for our firm’s largest project to date. This came with some challenges when lead times turned astronomical, material cost was unpredictable, and the availability of manpower was essentially nonexistent.

I hope that you see an opportunity as it arises by Vin Cannistraro

As Marvin Gaye famously sang, “What’s Going On.” Indeed, it’s quite a challenge to figure that out in today’s climate, and more importantly, to determine where one should be going. One of the most widely accepted assumptions is that [real estate] investors make all of their decisions based on “facts” while homeowners allow themselves to be governed by emotional responses.

Rising office vacancies can create an opportunity for the New Hampshire Seacoast by Christian Stallkamp

If you’ve been keeping up with current events, you may have noticed a shift from concerns about the banking sector to worries about the commercial real estate industry, specifically the office market. However, it’s important to note that the New Hampshire Seacoast office market is not comparable to larger cities such as New York City, Dallas, and Chicago that have been making headlines.

Landlords and restaurant leases by Dennis Serpone

Seventy-five percent of all small businesses are food and liquor related. Every business owner, once a location is secured, has to be prepared for dealing with a landlord, a build-out, personnel, and then the customers.

The Rhode Island industrial market continues to exhibit low vacancy rates - by Mike Giuttari

As Rhode Island heads into the 2^nd half of 2023, we see: 1) A definite slowdown in the office sector, whether CBD space or suburban space; 2) An increase in sub-lease office space; 3) Continuing demand for industrial space with a complete lack of any useful inventory for this market; and 4) Proposed industrial is all large (250,000+ s/f space) for this market.

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Ones to Watching Rising Stars Spotlight

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Reservation of rights letter: The insurer’s prenuptial agreement with its insured - by Cole and Sams

Did you know that when your insurer agrees to defend you in litigation, but reserves the right to disclaim coverage, you have the right to hire your own attorney – and your insurer pays those legal bills?

Watch out for Champion Elevator as they soar above their competition and build their New England operation and culture!

Champion Elevator’s New England expansion has been a roaring success for property owners and managers, providing them with an outstanding alternative to OEM companies. With the warehouses and operations centers in Shelton, Connecticut and Nyack, New York, Champion offers rapid services to clients at unbeatable prices.

Office market review - by LeGeyt and Harnden

When you look at the overall office market in Greater Portland for 2022, the sector was in transition. Another year removed from COVID, and another year, where we still do not believe we have seen the last of its impacts. Firms are still trying to determine how many of their employees will be returning to the office and therefore how much space they will need. Some firms are planning for 40 – 50% of their FTE to be

Landlords and tenants in 2023 - by David Skinner

There are so many topics that effect industrial real estate in April 2023. My article today will consist of two parts. Part 1 will exhibit my general theory of landlord vs. tenant relationships and how they drive the commercial real estate marketplace. Part 2 will share my understanding of what this means for us in today’s world.