As the summer nears an end, CP Management is reflecting on what was a busy season for the company and real estate market at large.
The residential and multifamily real estate markets thrived with continued competitive pricing and low inventory throughout Southern ME, New Hampshire, and Northern MA. The commercial market was more disparate. The office sector was mixed with some companies fully welcoming back employees to the office while others’ plans were sidelined by continued COVID concerns. The industrial market is at an all-time high, while the retail market varies heavily by use and location.
CP Management saw an overall net increase in properties under management in both their residential and commercial portfolios this summer. They also assisted with the sales of multiple multifamily apartment buildings under their management. While it is disappointing to no longer manage these properties, CP Management is elated to have helped create strong valuations that rewarded their clients and investors with impressive returns. The six new properties added to CP’s portfolio this summer are a great example of the different property types, locations, and sizes they can serve. Read on to learn more about these properties below:
Windsor Meadows Condominium- Brentwood, NH - Residential condominium built in the early 2000s on converted agricultural land. The townhouse-style units are located next to acres of woodlands containing walking paths.
Gardner House Condominium – Exeter, NH – Residential condominium in downtown consists of a newly constructed building in addition to the historic Gardner House which is currently the only single-family residence in the middle of the historic town square.
Oak Residence – Lowell, MA – Multifamily apartment community developed and managed by a family-owned group for close to 30 years. The new ownership group is excited for this value-add opportunity in the center of a rapidly growing rental market.
2 Tarbell Street– Pepperell, MA - Retail building with two current tenants. Recent capital projects have prepared the building to welcome new triple net tenants at increased rates.
Exeter Professional Park – Exeter, NH – Commercial condominium on Hampton Road. This three-building property has a mix of owners/tenants including a strong medical presence.
Eldredge Park West Condominium – Portsmouth, NH – Commercial condominium in the West End neighborhood. This historic building dates back to the 1800s and gets its name from the Eldredge Brewing company that use to call it home.
To learn more about how CP Management can help with your property management needs visit www.cpmanagement.com or call 603-778-6300.
