EXETER, N.H. — New Hampshire-based Monahan Cos. will develop a 116,288-square-foot warehouse within Garrison Glen Corporate Park in Exeter, located east of Manchester. The property will feature 40-foot clear heights and proximity to Interstate 95 and State Route 101. Approvals are in place, and construction is expected to last about nine months. Monahan also recently completed a 110,000-square-foot build-to-suit project for Gourmet Gift Baskets on an adjacent lot. Cushman & Wakefield is marketing the development.
MANCHESTER, N.H. — Cornerstone Realty Capital has arranged a $13.6 million loan for the refinancing of a 242-unit multifamily portfolio in Manchester, located near the New Hampshire-Massachusetts border. The portfolio consists of 10 buildings offering a mix of studio, one-, two- and three-bedroom units, as well as several retail spaces. The nonrecourse loan was structured with a 10-year term and an unspecified period of interest-only payments. The borrower and direct lender were not disclosed.
MANCHESTER, N.H. — AAM 15 Management has opened a Residence Inn by Marriott hotel in Manchester, located near the Massachusetts-New Hampshire border. The property features 123 suites with fully equipped kitchens and special living areas. Amenities include a fitness center, outdoor fire pit and onsite laundry facilities.
MANCHESTER, N.H. — The Kane Company Inc., in partnership with a fund managed by DRA Advisors, has acquired Manchester Logistics Center, a 725,000-square-foot distribution center located near the New Hampshire-Massachusetts border. Developed in the 1970s as a build-to-suit for hardware retailer True Value, the property spans 38.1 acres and features 38-foot clear heights, 75 tailboard height docks and 111 trailer parking spaces. Chris Healey of CBRE represented the buyer in the transaction. The seller was not disclosed. Cushman & Wakefield has been tapped to lease the facility.
DOVER, N.H. — Index Packaging Inc., a locally based supplier of custom packaging services, has acquired a 45,938-square-foot industrial building in Dover, located near the Maine-New Hampshire border. Chris Healey of CBRE represented Index Packaging in the transaction. The seller was 150 Venture Drive LLC. The sale also included 20 acres for additional expansion.
KEYPORT, N.J. — Pennsylvania-based automotive parts supplier Best Line Equipment has acquired a 73,468-square-foot industrial complex in Keyport, located in coastal New Jersey, for $5 million. The property spans 14 acres and offers proximity to the Garden State Parkway and Newark Liberty International Airport. The seller was Fragrance Resources Inc.
NASHUA, N.H. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of an 83,500-square-foot retail property that is leased to Ashley Furniture Homestore in Nashua, a city located near the Massachusetts-New Hampshire border. The property was built in 2015. Chuck Evans of Matthews represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.
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.
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.
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.