Southern New Hampshire commercial real estate: A new era of manufacturing and innovation - by Michael Harrington

I’m optimistic that Southern New Hampshire is no longer waiting for the next industrial cycle. It may already be in it. Two announcements in September 2026, United Therapeutics’ purchase of the former Anheuser-Busch campus and Vicor’s plan to assemble nearly one million s/f of manufacturing space mark a shift from speculative warehouse demand toward mission-critical production.

The recent announcement that United Therapeutics, the Maryland-based corporation developing pharmaceuticals and bioengineered organs has purchased the former 700,000 s/f Budweiser manufacturing facility in Merrimack on 300 acres for a reported $47.5 million is a significant development for the region. The company has already established a presence in Manchester, and its investment in the Merrimack property could create another important piece of the region’s growing life-sciences and advanced-manufacturing industry.

Shortly thereafter, the Andover based Vicor announced plans for major expansion in Southern NH. The company is reportedly acquiring a 334,000 s/f building on 66 acres located in Merrimack plus a 54 acre site in Hooksett as part of a plan that could ultimately provide one million square feet of semiconductor chip manufacturing capacity.

These are substantial investments. More importantly, they demonstrate that companies requiring highly specialized manufacturing facilities, engineering space and skilled employees continue to see Southern New Hampshire as a place where they can grow.

I think these announcements should also be viewed in the context of what Dean Kamen and the Advanced Regenerative Manufacturing Institute (ARMI) are trying to accomplish in Manchester.

Kamen’s vision is much bigger than creating another successful company or filling vacant mill space. Through ARMI and the ReGen Valley Tech Hub, the goal is to establish Southern NH as a national and global center for biofabrication and regenerative medicine.

ARMI is headquartered in the Manchester Millyard, and the ReGen Valley Tech Hub is anchored in Manchester. The initiative brings together industry, universities, government and community organizations to develop the technology, manufacturing capabilities and workforce needed to commercialize regenerative therapies. 

Dean Kamen has talked about the potential for Manchester to become a center for this emerging industry since 2017. That vision is beginning to translate into bricks and mortar. ARMI broke ground on a new biomanufacturing facility and workforce training center at 150 Dow St. in the Millyard, with completion planned for 2027.

What is particularly exciting is the amount of investment taking place throughout Southern NH and the Seacoast into advanced manufacturing, life sciences and defense related technology. I believe these investments will have a much bigger impact on Southern NH commercial real estate than simply filling buildings. A successful technology cluster doesn’t just need laboratories. It needs manufacturing buildings, offices, housing, restaurants, retail, childcare, hotels entertainment venues and transportation infrastructure.

As such, I believe the impact extends well beyond its inspirational foundation in Manchester. As companies grow, they will need suppliers, contractors, research partners and additional manufacturing capacity. Employees will need housing. Businesses will need office and service space. Communities that will benefit from this next industrial cycle will need to plan for infrastructure (water, sewer, power, natural gas) and easy access to transportation corridors will be key to capturing these businesses.

This is where I see the United Therapeutics and Vicor announcements fitting into the bigger Southern NH story. We are seeing significant investments in different industries, but they all have something in common: they require land, buildings, infrastructure and people.

Industrial buildings such as 220 Hackett Hill Rd. illustrates the type of opportunities in this market. This is a 61,000 s/f advanced manufacturing and flex facility that sits on 10.53 acres has heavy power, loading docks and infrastructure for a potential building expansion. The property is available for sale or lease and could be particularly attractive to an advanced manufacturing, technology or an industrial user looking for an established Southern NH location at a cost below that of new construction.

The Southern NH commercial real estate market is changing. We are no longer simply talking about warehouse space, service bays and traditional office buildings. The future includes advanced manufacturing, life sciences, biofabrication, defense technology — and the real estate infrastructure necessary to support those industries.

I believe the vision for ReGen Valley, combined with investments from companies such as United Therapeutics, Vicor and many others, will become an important economic development story for Manchester and the entire Southern NH region.

Southern NH has the opportunity to build something special and I believe we are just beginning to see it take shape.

Michael Harrington, CRE, CCIM, RPA, is a principal of Harrington & Co., Manchester, N.H.