Industrial and Office Overview

Industrial

Currently in the North Country there is a high vacancy of industrial space approximately 40%- with a sizes ranging from 10,000 square feet to 500,000 square feet. The industrial market is dominated by previously occupied, single-user buildings that once housed paper mill operations and textile manufacturing. Ceiling heights range from 13 to 25 foot clear. Most heavy industrial buildings are for lease or sale. Lease rates range from $2.50 to $4.00NNN.

Office

The office market in the North Country consist of industrial buildings that can accommodate office use, vacant retail shopping centers, and first floor spaces in mixed-use downtown buildings in locations such as Lancaster, Colebrook, and Berlin. Average rental rates range from $5.00NNN with minor tenant improvements to $12.00 per square foot gross, with turn-key tenant improvements. Most locations have ample parking, unless the buildings are located in downtown locations, in which case, there are limited assigned spaces and the rest are on-street public parking.