MANSARD brokers $4.3 million sale of retail center in Salem, NH - Main Street 401, LLC purchased the property from NNM Realty Trust

February 26, 2021 - Retail

Salem, NH MANSARD has completed the sale of the retail property at 401-403 Main St. for $4.3 million. Main Street 401, LLC will take over ownership from NNM Realty Trust.

The 29,264 s/f retail property is home to sixteen mixed-use retail and office units anchored by People’s United Bank. The property is located along a highly trafficked intersection.

Jeremy Cyrier, CCIM, president and commercial real estate advisor at MANSARD said, “The sale of this landmark retail property in Salem was a team effort. Our sale process generated multiple offers, resulting in the right price for the seller. If it weren’t for the efforts of the entire team, notably Taylor Saulnier, this deal wouldn’t have happened. We’re excited for Main Street 401, LLC and wish them the best of success with the property.

New owner, Kim Abare of 401, LLC, said, “Throughout the due diligence period, we worked directly with Jeremy in requesting several pieces of information. If I texted him, called him or e-mailed him, I always got a response, even if the entire answer wasn’t available at that time. Once we were past due diligence, I felt comfortable giving Jeremy’s contact information to our own attorney for the firm to work directly with Jeremy in obtaining information in delivering accurate, timely information to the seller, and to meet all of the committed deadlines in the P&S. There was absolutely no need for me to have a buyer’s agent. Jeremy was able to perform roles for all, while making it clear his contract and loyalty was to the seller. His goal was to get this to closing on-time. Highly recommended.”

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