Colliers facilitates an 18,000 s/f lease and $3.46m sale in New Hampshire

Concord, NH Colliers has completed the lease of 18,000 s/f of industrial space at 34 Locke Rd. to Tri-State Painting. Systems Corporation USA, Inc., the previous occupant of the space, engaged Colliers to market its space for sublease and secure a replacement tenant. Doug Martin, vice president of Colliers in New Hampshire, represented Systems Corp. in the transaction. 

Colliers ultimately secured Tri-State Painting as the replacement tenant and worked with the parties to transition the space from Systems Corporation’s remaining lease obligation to a new, direct lease between Tri-State Painting and the property owner, McCuda, LLC. Nick DeNisco of The Boulos Company represented the property owner.

“Colliers was able to navigate the added layers of this transaction and create a solution that worked for everyone involved,” said Martin. “For Tri-State Painting, 34 Locke Rd. provides a long-term location with excellent accessibility and the flexibility to support the company’s continued growth in the area.”

Tri-State Painting is relocating from the Tilton area to 34 Locke Rd., providing an upgraded industrial space and a well-located base for its continued growth.

In addition, Colliers, completed the sale of 611 Amherst St. in Nashua, N.H., for $3.46 million, according to the Hillsborough County Registry of Deeds.

Bob Rohrer, managing director with Colliers in N.H., represented the buyer, 611 Amherst St., LLC, in the transaction. Jack Laurendeau, of Horvath & Tremblay represented the sellers, JCH Development and Management, LLC.

The 5,600 s/f retail property is situated on 2.74 acres along Amherst St./Rte. 101A. The property is fully leased to Starbucks and Verizon, both of which have occupied the property since 2008. The acquisition expands the owner of Best Ford’s real estate holdings along the Amherst St. corridor, near its existing dealership at 579 Amherst St. and other nearby properties.

“611 Amherst St. was a natural fit for the owner’s portfolio,” said Rohrer. “The property combines long-term tenancy, strong visibility, and a strategic location near their existing holdings along the Amherst St. corridor. It was a compelling opportunity to acquire a stabilized asset while further strengthening their presence in the area.” 

Located near the Everett Turnpike and surrounded by a mix of national retailers, restaurants, automotive dealerships, and other commercial uses, 611 Amherst St. benefits from strong visibility and traffic counts exceeding 38,000 vehicles per day.