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Brokerage
Posted: June 24, 2016
NAI Norwood Group sells 22,500 s/f mall for $550,000
Judy Niles-Simmons, NAI Norwood Group
800 Turnpike Road - New Ipswich, NH
Chris Norwood, NAI Norwood Group
New Ipswich, NH NAI Norwood Group completed the sale of the Newest Mall located at 800 Turnpike Rd. Judy Niles-Simmons and Chris Norwood represented the seller, Tower Realty Trust. Dave Gambaccini of KW represented the buyer, Porti Realty, LLC. According to the N.H. Registry of Deeds, the sale closed on June 3 in the amount of $550,000.
This 22,500 s/f investment asset was sold to a local party who hopes to take advantage of the exiting lease income from both the local tenants, as well as the existing United States Post Office Lease. 800 Turnpike Road (AKA Newest Mall) is a local community center and one of the few retail assets in the town of New Ipswich. Optima Bank and Trust provided the financing for the buyer.
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