
Pembroke, NH NAI Norwood Group said that Joe Mendola and Joe Robinson, have completed the sale of Stop N’ Stor It. The facility is on six acres and offers 71,925 s/f of storage. This property was the first one that served the state capital, Concord, from the adjacent town. Concord had rezoned the area around the new mall and out positioned industrial uses near the mall. The success of this property is the result of finding a site nearby the Concord population base that was a permitted use for self-storage.
“This transaction had multiple offers within a week of going to market,” Mendola said. “This action is indicative of private equity and institutional dollars seeking self-storage in areas with high barriers to entry.”
Mendola and Robinson are both commercial real estate brokers with NAI Norwood Group as well as the Argus Self Storage Advisors broker affiliates for the New England Area.
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.
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.