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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.
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