Cushman & Wakefield handles $1.725 million sale for Perimeter Realty and St. Mary's Bank

On behalf of Perimeter Realty Associates, L.L.C., Cushman & Wakefield completed the sale of a 31,337 s/f facility at 48 Perimeter Rd. for $1.725 million. Cushman & Wakefield's executive director Thomas Farrelly, director Denis Dancoes and senior associate Sue Ann Johnson represented the seller, Perimeter Realty Associates, and the buyer, St. Mary's Bank. 48 Perimeter Rd. will become the home of St. Mary's Bank's operations center and its 90 employees. "We plan to relocate our operations center from leased space to this new location. In addition, this site affords us the opportunity to include a new employee training facility and a full service branch office with 24-hour ATM and night drop service," said Daryl Cady, EVP, chief operating officer and treasurer of St. Mary's Bank. 48 Perimeter Rd. is a single-story, office and industrial building on 5.14 acres of land. The property is located directly adjacent to the Manchester Boston Regional Airport. "After an extensive review and analysis of St. Mary's Bank's options in the market, 48 Perimeter Rd. was identified as the best fitting solution due to the building's size, location, economics, flexibility and opportunity to accommodate growth," Dancoes said. About St. Mary's Bank St. Mary's Bank is a Manchester-based not-for-profit cooperative financial institution which offers its members state-of-the-art banking services and a variety of packages of financial services and products. Founded in Manchester in 1908, St. Mary's Bank has a long history of serving the community through outreach to the underserved. Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 230 offices in 60 countries and more than 13,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within five primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, Consulting Services, including business and real estate consulting; and Valuation & Advisory, including appraisals, highest and best use analysis, dispute resolution and litigation support, along with specialized expertise in various industry sectors. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com. For the New England area, Cushman & Wakefield maintains offices in Boston, Massachusetts; Manchester, New Hampshire; Portsmouth, New Hampshire; Hartford and Stamford, Connecticut; and Portland, Maine.