News: Northern New England

Waters of Lang McLaughry Commercial leases 5,000 s/f

Bruce Waters, CCIM, senior broker for LANG MCLAUGHRY COMMERCIAL,completed a 5,000 s/f office lease to StartDate Labs, Inc. at 10 Water St. 10 Water St. is a 40,000 s/f classic New England mill building that has recently gone through extensive renovations and has become the "private sector" incubator for Upper Valley technology. StartDate Labs incubates new ideas, technologies, and businesses that aim to transform talent acquisition and human capital. StartDate Labs was founded by Tim McKegney and Chris Forman, both veterans of high technology companies specializing in recruitment and high level job searches. Currently, StartDate Labs' portfolio includes StartWire, claimed to be America's #1 search organizer and AppCast, a global "cost-per-applicant" ad network. The new office space was recently renovated for the high tech functions of StartDate Labs, but retain the "patina" of the mill building, with exposed wood beams, high ceilings, finished wood floors, exposed brick and newly installed, energy-efficient, double hung windows, which allows for fresh air into the office environment. Other technology companies established at 10 Water St. are Simbex, a Bio-Centric innovator and Signal Quest, a designer and manufacturer of electronic sensors, to name a few. 10 Water St. is owned and operated by S & W Investment Company, a locally owned real estate holding company. LANG MCLAUGHRY COMMERCIAL represented the landlord and assisted the tenant with their transaction.
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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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. 

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.