111 Maplewood Avenue - Portsmouth, NH
Hampton, NH The Kane Company Inc. has acquired 1 Liberty Ln. East, in Hampton, and 111 Maplewood Ave. in Portsmouth for an undisclosed price.
Located off Exit 2 and with frontage along I-95, 1 Liberty Ln., is a bucolic setting featuring two large ponds, walking trails, and landscaping. Originally developed in the 1970s for Wheelabrator-Frye to house its 110,000 s/f Georgian style headquarters, Liberty Lane Office Park has evolved over the years. Kane has plans to upgrade and renovate parts of the multi-tenant office building, as well as build additional office and commercial space on 26 acres of undeveloped land only 20 minutes to downtown Portsmouth, 40 minutes from the Manchester-Boston Regional Airport, and less than an hour to Boston, this park is accessible from Exit 2.
111 Maplewood Ave., locally known as The Herald, is located in the heart of downtown Portsmouth. The single story, 19,976 s/f, multi-tenant office facility on a 1.34-acre lot is home to Kennebunk Savings Bank, Verani Realty-Berkshire Hathaway, Donahue Tucker & Ciandella, PLLC, Waddell & Reed Financial Services, Market Street Talent, Inc. and Venn Science. The lot has been subdivided in order to allow for the construction of the new, 74,000 s/f, class A, future home of Heinemann Publishing. The building located at 123 Maplewood Ave. is expected to be completed in early 2021.
Tom Farrelly of Cushman and Wakefield of New England represented the seller and procured the buyer.
The Kane Company is a full-service commercial real estate company specializing in investment, sales, leasing, asset management and development. The company consists of three main divisions: Development, asset & property management and brokerage.