Manchester, NH NAI Norwood Group completed the sale of 655 South Willow St. Karl Norwood and John Hoben of NAI Norwood Group represented German-based OSRAM Sylvania and their real estate advisor, DTZ, Inc. to bring the property to the market, procure the buyer, and complete the transaction at a purchase price in excess of the marketing price.
The property was purchased by a joint venture of Brady Sullivan Properties, LLC and The Anagnost Companies, Inc. Realty and Development of Manchester. According to the N.H. Registry of Deeds, the transaction was completed in the amount of $4.2 million.
The 300,000 s/f multi-building manufacturing complex sits on 15 acres along the South Willow St. retail corridor. The new proposed project includes adding another 10-12 retailers to the Queen City retail corridor and will bring jobs not only in the retail sector but in construction as well.
“We are pleased to have assisted OSRAM Sylvania in meeting their objectives,” said Norwood. “And are also heartened that the strong, local buyer team has embarked on an exciting reuse and redevelopment program for this important community asset.”