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News:
Owners Developers & Managers
Posted: June 1, 2018
Scioto Riverpark purchases 14,400 s/f Exeter Decorating Center at 164 Epping Rd. in Exeter, NH for $1.5 million
Exeter, NH Colliers International handled the sale of 14,400 s/f Exeter Decorating Center building at 164 Epping Rd. David Choate and Laura Farago of Colliers’ Portsmouth office represented the seller, 164 Epping Road, LLC, and assisted the buyer, Scioto Riverpark, LLC of Portsmouth, in this sale-leaseback transaction.
Scioto Riverpark purchased this property as part of a 1031 tax deferred exchange. The current tenant, Exeter Decorating, entered into a multi-year lease.
Ralph Dutton of 164 Epping Road, LLC (and owner of Exeter Decorating) said, “The reason this deal was attractive is two fold. First, it will allow us to use the proceeds to construct our new space and second, it will provide us the opportunity to lease back the space to continue operations during that time.”
According to the Rockingham County Registry of Deeds the purchase price was $1.5 million.
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