MANCHESTER, NH Colliers International completed the sale of a 59,000 s/f building on a 5.15 acre ground leased parcel at 5 Perimeter Rd., to The Founders Academy.
The building has been used as a machine shop servicing the defense industry for many years, and sits on a long-term land lease from the Manchester-Boston Regional Airport. The buyer plans to completely renovate the building for use as a charter school.
Dan Scanlon, JD, CCIM of Colliers International’s Manchester office, represented the seller, PGM of New England LLC, in the transaction. Sue Ann Johnson, of Cushman and Wakefield, represented the buyer.
According to the Hillsborough County Registry of Deeds, the property sold for $1.4 million.
Thomas Frischknecht, founder and chairman of the board of The Founders Academy said, “We are very pleased to complete the acquisition of 5 Perimeter Rd., finding a home for The Founders Academy in Manchester and we appreciate the collaboration that Colliers International and Cushman & Wakefield has extended to our charter school.”