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W W W. M A I N E B I Z . B I Z 17 A P R I L 2 0 , 2 0 2 0 F O C U S R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G Local and national buyers are still active, eyeing low interest rates. "e company has seen an uptick of interest in the industrial, warehouse and logistics sectors," Paszyc says. Paszyc and his partner Nick Lucas launched marketing for a 29-unit resi- dential investment property in March; it garnered strong interest. Boulos had major sale closings and lease signings in recent weeks, with more scheduled and on-track. "However, we would be foolish not to plan for the worst," Paszyc says. "One silver lining is we are using this time to work on projects that we've had on our 'to-do' list, such as improvements to our customer relationship-management sys- tems, so we'll be ready to hit the ground running when restrictions are lifted." Adjust expectations To some extent, brokers see a willingness on the part of sellers and buyers to adjust expectations. "Activity has slowed down," says Karen Rich, with Malone Commercial Brokers in Portland. "But one thing we're seeing is that, when there's moti- vation on both sides, deals are moving forward." at motivation can come in the form of price adjustments and contract extensions. "I see people cooperating more," says Malone broker Cheri Bonawitz, who often partners with Rich on transac- tions from southern Maine to Bangor. e two recently closed four transac- tions — two multi-family properties, a laundromat and a seasonal retail business — that were underway before the emergency. e seller of the retail business came down in price in order to finalize the deal, she notes. Buyers and leasers are still in the market. "For instance, there are still 1031 buy- ers out there," says Rich. "ey will have already started this process 30 days ago, 60 days ago. ey need to find a replace- ment property once they've sold their previous properties. ose people are potential buyers." Avoid further disruption Brit Vitalius at Vitalius Real Estate Group in Portland sees a mixed impact. "We've got the investor side of our brokerage with the multi-families," he says. "We had one rather large deal close quickly, another was renegotiated and a third where the buyer walked from his deposit." In some cases, buyers and sellers want to proceed quickly to close a deal before there's any further disruption to the economy, he says. Some sellers have agreed to price adjustments. Proactive communication along the chain that connects tenants, landlords and lenders is essential to "getting through this and out the other side," Vitalius says. CN Brown has a variety of rate plans that are suitable for the smallest businesses to the largest en es. Choose a plan based on your business's size and unique needs. cnbrownenergy.com/commercial-fuel/commercial-electricity Backed by superior service and reliability! > Electricity > Hea ng Oil > Kerosene > Propane > Natural Gas > Gasoline > Ultra-low Sulfur Diesel > Off-road Diesel Comprehensive energy op ons for your business At Jensen Baird, our commitment is to you. Maine lawyers. Maine clients. Maine values. Portland / Kennebunk 207-775-7271 • 1-800-756-1166 • jbgh.com We know what our clients need, because we know Maine. Our lawyers understand the unique challenges of living and doing business here. We aren't part of a huge national firm, we're part of the community. And we've been that way for over 60 years. C O N T I N U E D O N F O L L OW I N G PA G E » P H O T O / N A D R A E D G E R L E Y Real estate broker Real estate broker Rob Edgerley Rob Edgerley, of , of Maine Life Real Maine Life Real Estate Estate in Scarbor- in Scarbor- ough, conducts a ough, conducts a virtual open house virtual open house March 20. March 20. We would be foolish not to plan for the worst. — Chris Paszyc

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