Category: Northern New England

Manchester, NH Deanna Caron, associate broker at Stebbins Commercial Properties brokered the sale of 749 East Industrial Park Dr. The 23,439 s/f office building was previously owned by The Nackey S. Loeb School of Communications, Inc.

Concord, NH Sanborn, Head & Associates, Inc. (Sanborn Head) has added two senior leaders in the firm’s industrial client service area. Julie Scott, PE and Stefanie Lamb, PG bring extensive technical experience and leadership in environmental consulting to their roles of senior vice president and vice president, respectively.

The Federal Reserve’s decision to raise interest rates again last month by .25%, (25 basis-points) represents the ninth rate hike in 12 months (a ± 425 basis point increase since the start of 2022). While further interest rate increases seem inevitable, they will likely extend the muted theme and velocity of real estate financing for the next quarter, or longer.

Plaistow, NH Fulcrum Associates along with HCA Parkland Medical Center celebrated the groundbreaking for the newest freestanding emergency room on Plaistow Rd. The emergency room will expand local access to emergency care for residents and employees of the region.

Spring is finally here. No crocuses, but the snowbanks have receded to the shady corners of the yard. What portends for commercial real estate? There are still lots of headwinds, primarily rising interest rates. Given how low rates got (and stayed) the current rates are a shocker.

With the spring season upon us and substantial changes continuing to affect commercial real estate on a daily basis, experts in the construction and permitting sectors see marginal relief from the trends experienced since the start of the pandemic. In fact, despite efforts from central banks and governments across the world,

Manchester, NH National HVACR wholesale distributor Johnstone Supply leased 875 Holt Ave., represented by The Boulos Company. The Boulos Company team—Chris Healey from the Manchester office, Caitlin Burke from the Portsmouth office, and Derek Miller from the Portland office collaborated to represent Johnstone with an eye toward additional growth in New Hampshire.

Last month, in light of rising interest rates and unchecked inflation, a couple of lending experts were consulted and provided some great insight on broader capital markets and the lending environment changes we’re currently experiencing. Considering the more specialized nature of construction lending, I recently consulted with Michael Mulcahy of Mulcahy Capital, who primarily deals with construction loans for smaller developers.

Well, we made it through Valentine’s and Presidents’ Day! All things considered, not a bad winter–except of course for that horrible record breaking coldsnap that put Mt. Washington on the national news a few weeks ago.

Hampton, NH William Peck of Horvath & Tremblay has arranged the sale of the Elaine St. portfolio, 41 residential units. Peck exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $8.1 million and $197,561 per unit.

Portland, ME Joe Porta SIOR, Vince Ciampi, and Peter Gwilym of Porta and Co. represented all parties for a master lease at 511 Congress St. and 48 Brown St. 

Cumberland Foreside, ME DeStefano & Associates, Inc. has started the construction of a 45-unit condo project off Rte. 1. The four-story structure will contain one- and two- bedroom condos, underground parking, workout room, community area, and car charging port.