Brady Sullivan Properties has completed the sale of 175 Canal St., also known as The R. G. Sullivan Building, to York Cigar Building, LLC.
Travis York, president and CEO of GYK Antler (formerly GY&K Marketing and Griffin York & Krause), purchased the building as the new headquarters for his marketing firm. This high quality 55,000 s/f class A office building sold for $5.85 million. The agency plans to relocate from its River Front Dr. office in Manchester into the ground and first floors of the R.G. Sullivan building in early 2015. Occupying 14,000 s/f and continuing to lease the remainder of the suites on the upper levels.
175 Canal St. is the former R.G. Sullivan 7-20-4 Cigar Factory Building and was built in 1906 by Roger G. Sullivan. The historic building boasts seven stories with access to all major points. Brady Sullivan owned the building since early 2004 when they purchased it from New Boston Fund. This was an excellent opportunity for an owner user to purchase the building and a win-win for both parties according to Charles Panasis, director of commercial real estate for Brady Sullivan who represented the seller. The company is targeting larger assets in the 100,000 s/f range as a minimum starting point according to Panasis.
Brady Sullivan's recent purchases for 2014 have included: 900 Elm St. (City Hall Plaza) in downtown Manchester, two shopping centers in Keene, 3000 Goffs Falls Rd. and 1050 Perimeter Rd. in Manchester.