Ritchie Bros. Auctioneers, one of the world's largest industrial auctioneers, broke ground on its new regional auction site on May 29. The new 54-acre property will serve as the company's first regional auction site in N.H. and as a replacement auction site for Ritchie Bros.' 15-acre regional auction site near Hartford, Conn.
With a strong customer base in the New England market, Ritchie Bros. has been actively searching for a central and easily accessible property in the New England area for close to 10 years. Ritchie Bros. finalized a lease and development agreement on the 54-acre property located at 39 Hackett Hill Rd. in early May.
Biff Zoephel of Colliers International represented Ritchie Bros. in their search throughout Conn., Mass. and N.H. for a site that was easily accessible via a major highway interchange with site exposure from the highway.
The first phase of construction is expected to be completed later this year and it will include substantial earthwork improvements to develop the property into a working auction site of 25 acres. Approximately 18 of the 25 acres will be used for displaying equipment prior to an auction. The remaining acreage is engineered to allow for future expansion which will include more display space and the construction of new auction facilities and services.