Colliers International | New Hampshire has sold two properties totaling 244,078 s/f of industrial space.
In the first transaction, Colliers International | New Hampshire's team of Doug Martin, Jim DeStefano and David Choate represented General Electric Capital Corp. in the sale of 39 Sheep Davis Rd., Pembroke. Deane Navaroli of William & Reeves, LLC represented the buyer, Carwhit A&S Realty, LLC, of Woburn, Mass. in the transaction. The 144,378 s/f building had been vacant since Precision Technology closed in August 2009. The building will be converted into a multi-tenant facility. According to the Merrimack County Registry of Deeds, the property sold for $2.6 million.
In the second transaction, DeStefano facilitated the sale of a 99,700 s/f manufacturing building at 40 Industrial Park Dr., Franklin. The seller was Isola Corp and the buyer was Performance Chemicals, LLC of Concord. Performance Chemicals is a manufacturer of Burn-Out Flame Retardants, C-6 Repellants, and specialty chemicals serving specific customer requirements. They will relocate its operations to Franklin.
"These recent sales point to investors and users looking at available assets in secondary markets that can be more affordable while still fulfilling needed physical requirements of high bay clear height, multiple docks and heavy power " said Colliers International | New Hampshire's vice president of sales & marketing, Jim DeStefano.