New Hampshire

Cornerstone Arranges $34M Construction Loan for Multifamily Project in Portsmouth, New Hampshire

by Taylor Williams July 6, 2020

PORTSMOUTH, N.H. — Cornerstone Realty Capital has arranged a $34 million construction loan for West End Yards, a 134-unit multifamily project that will be located in Portsmouth, just south of the Maine-New Hampshire border. The property will feature one-, two- and three-bedroom units with quartz countertops, stainless steel appliances and individual washers and dryers. Amenities will include a fitness center and multiple common areas with lounges. The borrower and developer is Boston-based Torrington Properties. The direct lender was not disclosed.

July 6, 2020

Development New Hampshire Northeast Retail

BJ’s Wholesale Club to Open 90,000 SF Store in Seabrook, New Hampshire

by Alex Patton June 29, 2020

SEABROOK, N.H. — BJ’s Wholesale Club will open a 90,000-square-foot store in Seabrook, approximately 50 miles north of Boston. The newly constructed building will be located on a 20-acre site on the crossroads of Interstate 95 and State Routes 107 and 1. The store will anchor several nearby parcels planned for future commercial development. Slated for delivery in 2021, the new store will be BJ’s seventh in the state. Waterstone Properties owns the development site.

June 29, 2020

New Hampshire Northeast

Indoor Restaurant Seating, Recreational Retail Reopens in New Hampshire

by Alex Patton June 15, 2020

CONCORD, N.H. — Select retail businesses, including indoor seating at restaurants and recreational activities, are allowed to reopen in New Hampshire, according to a statement from Gov. Chris Sununu on June 15. Restaurants in the state were permitted to offer delivery and curbside service at the start of the COVID-19 outbreak, and outdoor seating resumed in mid-May. Both indoor and outdoor seating areas are required to position tables six feet apart, and restaurants are limited to 50 percent capacity. A number of recreational activities and other businesses have also reopened, including museums, art galleries, libraries, bowling alleys, billiards halls, gyms, pools, wedding venues, motor speedways and funeral homes. Performing arts centers and amusement parks are expected to reopen on June 29. As of June 14, the Centers for Disease Control and Prevention reported nearly 5,300 cases of COVID-19 in New Hampshire and more than 300 deaths.

June 15, 2020

Hospitality Loans New Hampshire Northeast

HREC Arranges $14.1M Construction Loan for Tru by Hilton Hotel in Manchester, New Hampshire

by Alex Patton March 17, 2020

MANCHESTER, N.H. — Hospitality Real Estate Counselors (HREC) has arranged a $14.1 million construction loan for the 126-room Tru by Hilton hotel in Manchester, located approximately 15 miles south of Concord. A regional bank provided the loan. Florida-based developer Lansing Melbourne Group is building the hotel for $23 million, according to local news site manchesterinklink.com. John Siska and Mike Armstrong of HREC arranged the loan, specific terms of which were undisclosed. The hotel is expected to open in third quarter of 2020.

March 17, 2020

Development New Hampshire Northeast Retail

Whole Foods to Open 42,000 SF Grocery Store in Portsmouth, New Hampshire

by Alex Patton March 6, 2020

PORTSMOUTH, N.H. — Whole Foods Market will open a 42,000-square-foot grocery store in Portsmouth, located approximately 45 miles east of Concord. The store will be the Austin-based grocer’s third in the state and will anchor Durgin Square Shopping Center, a 135,000-square-foot retail property that also houses HomeGoods and T.J. Maxx. The store is slated to open this fall. Scott Black of Dartmouth Co. represented Whole Foods in the lease negotiations. Ben Starr of Atlantic Retail represented the landlord, Black Creek Group.

March 6, 2020

Market Reports New Hampshire Northeast Northeast Market Reports Office

Mass Timber Emerges as Preferred Construction in New Hampshire Office Market

by Taylor Williams December 20, 2019

If you’ve spent time in quaint New England cottages, you know that unique indoor environment can conjure feelings of warmth, happiness and comfort. Exposed wood inside of houses provides sensations of coziness and security that have been emulated in biophilic design — a term referring to the human connection with nature — across America. So why hasn’t this warm and healthy feeling spread to America’s offices? We’ve seen the mill brick buildings and the steel and concrete office developments scattered along America’s highways and suburban areas. Some of us may have even worked in them. They are reliable, cost-effective and provide tenants with the basic amenities needed to get their work done. But the American office building is changing. Today’s companies demand more for their employees and are recognizing that comfortable offices with exceptional amenities are quickly becoming the new standard to attract top, young talent. According to Cushman & Wakefield’s 2019 “CRE Perspectives on Coworking” report, nearly two-thirds of companies are utilizing some form of coworking space. Look at the most popular coworking spaces in the country — many provide biophilic design elements to keep occupants happy. In early October, building owner Farley White, along with Cushman & Wakefield, …

December 20, 2019

Market Reports Multifamily New Hampshire Northeast Northeast Market Reports

Five Ways in Which New Hampshire’s Multifamily Developers Are Making Life Easier

by Taylor Williams December 18, 2019

As the saying goes, “nothing worth having comes easy.” While this is true in many ways — especially in the real estate business — the multifamily market in New Hampshire is putting this saying to the test. Design and technology trends represent innovative ways to make life easier for new residents. The result is a revolution in convenience and lifestyle across developments from Nashua to Pittsburg and everywhere in between. Five trends in particular are driving this revolution in the multifamily space. 1. Maximum Flexibility “Flexibility” is a term thrown around in real estate now more than ever. The line between traditional commercial and residential spaces is blurry, with an ever-increasing focus on creating flexible work and gathering areas. Cubical farms are out and coworking spaces are rapidly expanding. The result is a blending of residential and commercial experiences, with office décor that feels like home and homes designed to act as secondary offices. Collaborative gathering areas, which would have been considered foreign just 10 years ago, are now a focal point in new buildouts. Tenants and developers see these spaces as “must haves,” not “nice to haves.” Flexibility also spills over to simple multifamily concepts such as package deliveries …

December 18, 2019

Acquisitions Industrial New Hampshire Northeast

Cushman & Wakefield Brokers $58.5M Sale of Industrial Portfolio in New Hampshire

by Alex Patton December 12, 2019

MANCHESTER, HUDSON AND NASHUA, N.H. — Cushman & Wakefield has brokered the $58.5 million sale of a four-building, 593,026-square-foot industrial portfolio in Manchester, located approximately 15 miles south of Concord. The portfolio includes Manchester Air Center, a 145,675-square-foot, single-story building; Brady Sullivan Airport Center, a two-story, 151,484-square-foot manufacturing property; 5 Wentworth Drive, a 139,000-square-foot warehouse and office building in Hudson; and Birch Pond Business Center, a 153,700-square-foot office complex at 22 Cotton Road in Nashua. The portfolio was 96.8 percent leased at the time of sale. Tom Farrelly, Denis Dancoes and Sue Ann Johnson of Cushman & Wakefield’s New Hampshire team partnered with Dave Pergola and Brian Doherty of Cushman & Wakefield’s Boston Capital Markets team to represent the seller, Brady Sullivan Properties, in the transaction. Boston-based Albany Road Real Estate Partners was the buyer.

December 12, 2019

Development Mixed-Use New Hampshire Northeast

Tuscan Brands Breaks Ground on 2.8 MSF Tuscan Village Mixed-Use Development in Salem, New Hampshire

by Alex Patton December 3, 2019

SALEM, N.H. — Tuscan Brands has broken ground on construction of Tuscan Village, a 2.8 million-square-foot mixed-use project in Salem, located approximately 30 miles north of Boston. Tuscan Village will comprise 1 million square feet of office space, 800,000 square feet of retail space, 900 residential units for rent and for sale, two hotels, an entertainment district and a medical services facility. Outdoor apparel and equipment retailer L.L. Bean signed a 15,000-square-foot retail lease for a lakefront property on the development’s 6-acre lake that will allow customers to test out kayaks and other water sports equipment on-site. Completion is slated for fall 2020.

December 3, 2019

Development New Hampshire Northeast Office

Farley White to Develop 72,000 SF Office Building in Newington, New Hampshire

by Alex Patton October 4, 2019

NEWINGTON, N.H. — Farley White has begun development of 90 Arboretum Drive, a 72,000-square-foot speculative office building in Newington, located approximately 40 miles east of Concord. Farley White will develop the building adjacent to its 100 Arboretum Drive property, a 130,000-square-foot office building anchored by Long Term Care Partners. John Broderick and Stephen Horan of Colliers International secured a $29 million loan from Berkshire Bank to finance the property, which is slated for completion in early 2020.

October 4, 2019

Newer Posts

Older Posts