News:
Brokerage
Posted: July 25, 2016
Kenny of Colliers International sells 9,500 s/f for $1.81 million in Stratham
Maxine Kenny, Colliers
International
40-42 Portsmouth Avenue - Stratham, NH
Stratham, NH Colliers International sold a two building, 9,500 s/f net leased asset located at 40-42 Portsmouth Ave.
Maxine Kenny, of Colliers’ Portsmouth office, represented the seller, Sarnia Properties, Inc. of Portsmouth, NH. Jennifer Athas, of Marcus & Millichap in Boston, represented the buyer, Shearwater Investments Corp. of Stratham.
The property is occupied by Monro Muffler and Sherwin Williams, both of which have long-term leases at this location. Athas and her investment team brought in a local buyer to complete the transaction at a 7% cap rate. This transaction represents the overall cap rate compression in the seacoast market. According to the Rockingham Registry of Deeds, the selling price was $1.81 million.
MORE FROM Brokerage
Greene of Compass Providence closes on 19 Ledge Rd. for $2.8 million
Bristol, RI Compass negotiated the sale of 19 Ledge Rd. for $2.8 million. Kira Greene, founding agent of Compass Providence, represented the sellers in this transaction, working alongside Beth Anderson, client
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
