News: Northern New England

Waters of McLaughry Commercial leases 4,000 s/f to Lighting Designs

Bruce Waters, CCIM, senior broker for McLaughry Commercial negotiated the long-term lease between 227 Mechanic Street Properties and Lighting Designs. Lighting Designs will occupy one third of the newly constructed 12,000 s/f retail and design center located at 227 Mechanic St. The space is being built and fitted-up by Trumbull Nelson Construction Company. 227 Mechanic St. is the final building to be built on the re-developed "Honey Gardens" property and joins the newly built Service Credit Union building and Jake's Coffee Shop and a car wash. Lighting Designs, owned and operated by Brian Horan will offer a showroom of residential/commercial fixtures, as well as consulting services to the market place. McLaughry Comm'l. represented the landlord and assisted the tenant. Shown (from left) are: Edward Kerrigan, 227 Mechanic Street Properties, landlord, Brian Horan of Lighting Designs, tenant and Bruce Waters.
MORE FROM Northern New England

Reveler Development celebrates final phase of work at The Levee - new 51-unit apartment building in Biddeford

Biddeford, ME Reveler Development has begun construction on 10 Upper Falls Rd., the fourth and final phase of Reveler’s master-planned development in downtown,The Levee. “We’re thrilled to embark on this major milestone at The Levee,” said John Laliberte, CEO of Reveler
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Columns and Thought Leadership
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.