Stallkamp and Burke of CBRE | Portsmouth handle $3.4 million in sales

April 06, 2018 - Front Section
54 Daniel Street and 88 Penhallow Street - Portsmouth, NH

Portsmouth, NH CBRE | Portsmouth completed the $3.4 million sale of two commercial buildings as part of a portfolio sale. Christian Stallkamp and Caitlin Burke of CBRE | Portsmouth were the listing brokers for both 19-23 Pleasant St. Unit 1 in Newburyport, Mass., 54 Daniel St. and 88 Penhallow St. in Portsmouth. 

19-23 Pleasant St. Unit 1 consists of a 6,137 s/f retail condominium and sold for $1.475 million. The buyer was represented by Alissa Christie of Bentley’s Newburyport. The marketing process involved targeting a wide range of potential buyers from restauranteurs to real estate investors. The new buyers have not yet announced their plans for the property.

Christian Stallkamp, CBRE | Portsmouth

 

Caitlin Burke, CBRE | Portsmouth

 

 

54 Daniel St. and 88 Penhallow St. consist of a total of 5,717 s/f of mixed use with TJ’s Restaurant on the first floor and residential apartments upstairs. The building sold for $1.925 million. Andy Fleisher of NAI | The Norwood Group represented the buyer. TJ’s Restaurant will remain a tenant at the property. The property generated an immense amount of interest that warranted implementing a call for offers. CBRE | Portsmouth worked with the seller to identify the highest and best offer.

“Our seller had specific goals in mind about price, sale timeline and purchase and sale contingencies. By implementing a call for offers, we were able to collect and analyze all offers and help our client make the best decision in a timely manner,” said Stallkamp.

“In addition to a call for offers, we also scheduled a day strictly for touring the property. Doing so helped manage the high level of interest we had and limited the disruption for the current tenants,” said Burke.

CBRE | Portsmouth is an affiliate office of CBRE Group, Inc. This strategic partnership combined national resources with regional control and ownership to offer our clients a balanced service platform. CBRE | Portsmouth services the Seacoast and I-95 corridor and works closely with nearby CBRE | New England offices in Manchester, New Hampshire, Portland, Maine, Boston, Massachusetts, New Haven, Connecticut, Hartford, Connecticut and Providence, Rhode Island.