Brady Sullivan Properties sells One Wall Street to 1100 Elm St., LLC for $6.2 million

Brady Sullivan Properties has sold their One Wall St. location to 1100 Elm street LLC of Bangor, Maine for $6.2 million according to Charles Panasis, director of commercial real estate at Brady Sullivan. The 60,000 s/f office building was formerly the headquarters for Bank East and is now home to multiple tenants, including Sovereign Bank, Social Security, Securitas and MCI. Brady Sullivan made significant improvements over the last 18 months to include renovated common areas, improved landscaping and a slight expansion to the surface parking area according to Panasis. Cross Insurance, a subsidiary of Cross Financial Corp. will expand its presence after having acquired the office building and plans to relocate its New Hampshire operation from 637 Chestnut St. to 20,000 s/f at One Wall St. The building is an owner occupied acquisition for Cross Insurance allowing Cross the ability to expand along with providing a location on Elm St. with significant signage opportunities according to Panasis who represented the seller. The facility includes covered parking, drive up banking and easy access to downtown. "Woodrow Cross founded Cross Insurance in 1954 and has built the organization 'one policy at a time' to become one of New England's largest insurance providers. We have and will continue to be focused on delivering the kind of professional insurance services you can always trust to take charge of your insurance and risk management issues," said Royce Cross, CEO of Cross Insurance who represented the Buyer. "With this strategic expansion in the Manchester market, we look forward to serving clients in that area in a bigger and even more effective way," Cross added. About Brady Sullivan Properties Brady Sullivan Properties owns and operates more than 3 million square feet of commercial space in the southern New Hampshire region and also has a significant residential division as well with two recent residential mill developments completed along with an additional two complexes slated for Johnston Rhode Island and Clinton Ma. For more information, please contact Charles Panasis at 603-622-6223 or visit www.bradysullivan.com.