Category: Market Outlook 2024
2024 Maine’s Capital Market Outlook
February 27, 2024
2024 Maine’s Capital Market Outlook By Chris Paszyc, CCIM, SIOR | Partner, Broker In 2024, despite all current indications of a successful Fed-piloted “soft landing” we predict the commercial real estate investment volume to fall year-overyear, continuing the downtrend that started in 2022. However, the State of Maine will out perform the national averages and … Continue reading 2024 Maine’s Capital Market Outlook
read morePortland Maine’s Office Market Outlook 2024
February 20, 2024
Portland ME’s 2024 Office Market Outlook By Nate Stevens | Partner, Designated Broker DECEMBER 2023 When the Great Recession hit the office leasing market in 2008-2009, there was an initial sharp increase in the Greater Portland vacancy rates which continued to trend upward over four years until rates started to decline in 2013. Many companies were committed to … Continue reading Portland Maine’s Office Market Outlook 2024
read moreMidcoast Maine Commercial Real Estate Market Update: 2024
February 22, 2024
Maine’s Midcoast Commercial Real Estate Market Update: 2024 By Roy Donnelly | Associate There is no doubt that Maine’s Midcoast region benefitted from relocation trends spurred by COVID and the subsequent run-up in values. Population growth rates between April 2020 and July 2022 in four Midcoast counties equaled or outpaced that of Cumberland County, … Continue reading Midcoast Maine Commercial Real Estate Market Update: 2024
read moreMaine Retail Real Estate Market Outlook 2024
February 22, 2024
Maine Retail Real Estate Market Outlook 2024 By Joseph Italiaander | Associate Broker Maine commercial real estate has experienced a range of highs and lows across all asset types over the past few years. For example, we’ve seen unprecedented growth in the industrial sector. Maine’s warehousing/manufacturing companies, along with investors, have flocked to available product, … Continue reading Maine Retail Real Estate Market Outlook 2024
read moreLewiston Maine Commercial Real Estate 2024 Market Update
February 22, 2024
Lewiston-Auburn Commercial Real Estate Market Update: 2024 By Noah Stebbins | Broker The Lewiston-Auburn commercial real estate market continued on an upward trajectory over the past year, with new commercial/residential development projects announced or in the works, exciting new retailers entering the market, strong industrial demand, and motivated city officials, aiming to transform their respective … Continue reading Lewiston Maine Commercial Real Estate 2024 Market Update
read moreCentral Maine Commercial Real Estate 2024 Market Update
February 22, 2024
Central Maine Commercial Real Estate Market Update: 2024 By Chris Romano | Associate If you follow nationwide trends, turmoil in the office sector should spell doom and gloom for the entirety of Central Maine property values—the region’s commercial real estate market has traditionally been heavily saturated by office space. Fortunately, this is far from the … Continue reading Central Maine Commercial Real Estate 2024 Market Update
read moreMaine’s Industrial Market Outlook for 2024
March 19, 2024
Maine’s Industrial Market Outlook for 2024 By Jon Rizzo, SIOR | Partner, Broker In my 2023 Industrial Market Outlook, I mentioned how the change from a macroeconomic perspective (rising interest rates and inflation) caused a significant slowdown in commercial real estate transaction volume for the second half of the year. There was a disconnect between … Continue reading Maine’s Industrial Market Outlook for 2024
read moreDowntown Portsmouth Development Projects: 2024 Update
February 22, 2024
Downtown Portsmouth Real Estate Development Projects| What is really taking shape in 2024? By Caitlin Burke | Senior Associate The past few years we have tracked Portsmouth’s Downtown development, as it is always top of mind for many of the investors and tenants we talk with throughout the year. When driving through the Downtown corridor, … Continue reading Downtown Portsmouth Development Projects: 2024 Update
read moreManchester NH Industrial Market 2024 Update
February 22, 2024
The Manchester/I-93/Route 3 Industrial Market 2024 Update By Christopher Healey | Partner The 2023 New Hampshire industrial real estate market experienced another strong year with sustained demand, increased lease rates, low supply, and limited speculative construction. Collectively, these conditions ultimately resulted in a market with an overall vacancy rate of 4.8%. Though a significant increase … Continue reading Manchester NH Industrial Market 2024 Update
read morePortsmouth NH Industrial Market Update: 2024
February 22, 2024
Seacoast Industrial Market 2024 By Kent White | Principal Broker, Partner Over the past 3-5 years, the industrial and warehouse sector has been the dominant force in the commercial real estate landscape, not only in the New Hampshire Seacoast region but also on a national scale. While other commercial segments like the office market have … Continue reading Portsmouth NH Industrial Market Update: 2024
read moreManchester New Hampshire Office Market 2024 Update
February 22, 2024
The Manchester/I-93/Route 3 Office Market 2024 Update By Roger Dieker | Managing Broker, Partner The New Hampshire I-93/Route 3 Office market remained stable through 2023 with a slight increase in both vacancy (8.5%) and lease rates ($15.36/SF NNN). With the majority of office lease terms averaging 5 years, 2023 marked the 3-year mark from Covid-19 … Continue reading Manchester New Hampshire Office Market 2024 Update
read morePortsmouth, NH Office Market Update: 2024
February 22, 2024
The Seacoast-Portsmouth Office Market: 2024 Update By Christian Stallkamp | Senior Broker, Partner 2023 represented a fundamental shift in the commercial real estate landscape, including office space on the New Hampshire Seacoast. The blistering pace at which companies had been working, with a combination of remote work over the past few years, slowed down following … Continue reading Portsmouth, NH Office Market Update: 2024
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