Manchester, NH Colliers leased 4,100 s/f to Chase Bank at 786 Elm St.
Doug Martin and Andrew Robbins, of Colliers’ Manchester office, represented the landlord, 788 Elm Street, LLC. Adam Cirel of Atlantic Retail represented the tenant, Chase Bank, in the lease of this storefront on one of downtown’s most visible corners.
The former Portland Pie Co. location will become a new Chase Bank branch, which is set to open in December, and will be the bank’s fifth New Hampshire location.
“We want our presence to be where people live and work…Manchester is very vibrant and continues to grow,” said Laura Cortese, market director for Maine, New Hampshire, and Vermont.
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.
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.