Along the Seacoast in New England, the industrial sector has been busy during the past 12 months with a number of sales and leases, reflecting the steady recovery of the economy. There is more activity and we are even seeing a new crop of startups in the market looking for space. Buyers have found opportunities to pick up industrial properties at attractive prices and while locking in low interest rates from commercial local banks offering SBA and conventional financing. The largest recent deal in the market is SigSauer’s lease of a 206,000-square-foot facility at The Pease International Tradeport. The Exeter, New Hampshire-based company is making a substantial investment in building upgrades and new equipment before moving in. Rochester, New Hampshire, was successful in attracting a new 343,000-square-foot project at The Granite State Business Park. The building is a joint project between Albany Engineered Composites and Safran, a French aerospace company. The building will be located on a 50-acre parcel and will employ approximately 400 workers. Westinghouse is expanding from its existing base in Newington to an 80,000-square-foot building at the nearby Pease International Tradeport. The company has signed a lease at this high-bay building and is completing renovations before moving …
New Hampshire
New Hampshire has a big story to tell: a lower than average unemployment rate, low poverty and crime rate, high median household income and a well-educated population. We are among the healthiest and safest states in which to live. All of these factors contribute to continued population growth which will drive the goods and services sectors. New Hampshire also benefits from its proximity to Massachusetts and Maine as well as Canada whose shoppers are eager to take advantage of the absence of a sales tax. Prior to 2009, the Northern New England retail market was vibrant and active. However, retail expansion in the market came to a halt in 2009 and 2010 while the economy tried to dig itself out of stagnation. This year has seen a moderate uptick in activity both from a local and national perspective. Demand for retail space in northern New England is slowly returning. For the past several months, national retailers have been focusing on major metropolitan markets rather than peripheral markets. If retailers have a limited open to buy, chances are smaller cities such as Portsmouth may not be on their initial target list for expansion. However, quality retail space is continually being absorbed. …
Older Posts