Grubb & Ellis|Northern New England has sold the 31,346 s/f Merrimack Village Mall located at 416 DW Highway to City Bay Realty, LLC. The center, home to about a dozen local businesses, has been owned by Adrien Labrie, Jr. and family since 1969 and is located in a retail corridor on Rte. 3.
Dan Scanlon, JD, CCIM of Grubb & Ellis|Northern New England's Manchester office represented the seller and procured the buyer.
Ben Gamache, the principal of the buyer entity, owns several investment properties in southern New Hampshire and said, "I'm very excited to add this mall to my portfolio. Merrimack has a wide variety of businesses and the location of the plaza adds to the success that it has had for many years. We will be updating the facade and hoping to bring a newer, modern look to the plaza."
Labrie said he is grateful for all of his current and past tenants, vendors and tradesmen from over the past 35 years for their business and support, adding "I wish them all success, as I do the new owners at City Bay Realty, LLC."
According to the records of the Hillsborough County Registry of Deeds, the selling price was $1.35 million.