Bruce Waters, CCIM, senior broker for McLaughry Commercial, sold 41 acres on Technology Dr. McLaughry Comm'l. represented the owner, Korpela Family Trust.
The land, once used in part by the Korpela family as a dairy farm, is located adjacent to the completely developed Lebanon Business Park, with businesses such as Hypertherm, Woodstock Soapstone, Tecnica and the sprawling campus of Stryker Bio-Tech.
Waters said, "The 41 acre parcel was well situated to become an expansion of the existing business park, with most infrastructures already in place, such as road access, municipal water and sewer and utilities."
The land has a gentle slope towards the northwest and will provide commanding views of the Upper Valley.
The purchaser, Upper Valley Technology Park, LLC, has received permits to build over 120,000 s/f of technology office/lab space, with additional buildings in the future.
The Dartmouth/Upper Valley of NH/VT has become a strong leader in technology and bioscience ventures, based on the initiatives of Dartmouth College and Dartmouth Hitchcock Medical Center.
Waters said, "This purchase is very exciting for the overall market place, with its potential to create thousands of new jobs in a growing and economically high end field."
According to the Grafton County records, the land purchase was for $2.05 million.