IN MEMORIAM - WALLASE (WALLY) FLAHERTY

It is with great sadness that we report the passing of Wallase (Wally) Flaherty, Vice President of Investcomm Commercial Group, colleague and friend after a long illness.
Wally was a vice president and highly valued member of our firm.  A consummate professional, he rendered the highest level of service to his clients and customers, always with the utmost integrity.  We will miss him greatly

INVESTCOMM REPORTS RECORD REVENUES FOR 2007

Investcomm Commercial Group recently completed its sixth consecutive year of revenue growth for its commercial real estate sales, leasing, consulting and property management activities.

Investcomm’s success appears to significantly exceed national and local trends.   An experienced and effective brokerage staff combines with a creative, aggressive marketing effort to achieve this result.

Investcomm was established in 1985 by David Mathieu and (the late) Robert Rouillard to provide professional commercial real estate brokerage services to Northern New England.

NATIONAL COMMERCIAL REAL ESTATE FUNDAMENTALS HEALTHY

According to the National Association of Realtors®, ‘The fundamentals in commercial real estate remain healthy with only slight increases in vacancy rates expected for the office and industrial sectors during 2008. Patricia Nooney, chair of the REALTORS® Commercial Alliance adds, "Even with the credit crunch there's been no significant impact on institutional investors, and … commercial property in the U.S. has become very attractive to foreign investors." The Outlook also mentions the weaker dollar is fueling an increase in exports, but leasing activity has declined in port distribution hubs, and vacancy rates in those markets are edging up. There is a bright spot reported in the demand for office space remaining positive which is helping to absorb the more than 30 million square feet of new space becoming available in the current quarter. Investment grade office properties with solid income streams will be the most in demand by institutional investors, equity funds, and foreign investors’.

Additionally, experienced commercial practitioners seem to agree that current interest rates remain low by historical standards.  Although commercial loan underwriting requirements have tightened recently, there are substantial funds available for viable acquisitions and projects.