DURHAM, N.H. — Locally based investment firm Torrington Properties has acquired Mill Road Plaza, a 53,280-square-foot shopping center in Durham, about 70 miles north of Boston, for $8.8 million. Grocer Hannaford anchors the center, which sits on 10 acres. Other tenants include Allegiant Physical Therapy, Appledore Family Medicine & Pediatrics, Domino’s Pizza, Mei Wei, Rite Aid and The Works Café. The seller was Colonial Durham Associates. David Choate and Abigail Bachman of Colliers brokered the deal.
EVESHAM TOWNSHIP, N.J. — Capitol Seniors Housing has opened Arbor Terrace Marlton, an 87-unit complex in Evesham Township, located in Southern New Jersey’s Burlington County. Designed by Philadelphia-based architecture firm Meyer and built by IMC Construction, the property offers 60 assisted living units and 27 memory care residences. Amenities include a theater, bistro, salon, lounges, shared and private dining rooms and an outdoor garden. Rents start at $6,850 per month for an assisted living studio.
MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments has broken ground on a 323,750-square-foot industrial project in Merrimack, located in southern New Hampshire. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter.
HOOKSETT, N.H. — Boston-based developer Port One Cos. is underway on construction of Granite Woods Commerce Center, a 500,000-square-foot speculative industrial project located at 47 Hackett Hill Road in the southern New Hampshire city of Hooksett. The property will feature a clear height of 36 feet, 403 parking stalls, 86 trailer parking stalls, 67 loading docks with 53 future dock positions, two drive-in doors and build-to-suit office space. Completion is slated for early next year. Newmark has been retained to market the property for lease.
MANCHESTER, N.H. — CBRE has negotiated the sale of a 108-room Holiday Inn Express & Suites hotel in Manchester, located in the southern part of the Granite State. The location at 1298 S. Porter St. puts the hotel, which opened in 2003, within four miles of Manchester-Boston regional airport. Amenities include an indoor pool, fitness center and meeting/event space. Dave McElroy and Scott Hutchinson of CBRE represented the seller, a local family, in the transaction. Manchester Hospitality purchased the asset for an undisclosed price.
NEWTON AND KINGSTON, N.H. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $3.8 million sale of a portfolio of six multifamily buildings totaling 24 units in the southern New Hampshire communities of Newton and Kingston. Drew Kirkland, Francis Saenz and Jim Casey of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The names of the properties were also not disclosed.
NASHUA, N.H. — The City of Nashua, located in southern New Hampshire, has opened a 53,340-square-foot performing arts center, art gallery and event center in its downtown area. Boston-based ICON Architecture designed the project, which involved the demolition of an existing building on the site and the maintenance of a second structure to house the new center. The four-story venue now features a 753-seat theater, a section of which has a retractable seating system that can create a general admissions or private banquet area, as well as a communal gallery and an outdoor terrace.
BETHESDA, MD. — Walker & Dunlop has provided a $46 million HUD-insured loan for the refinancing of a portfolio of four assisted living facilities totaling 244 beds that are located throughout Vermont and New Hampshire. Woodstock Terrace and Valley Terrace respectively comprise 42 and 61 beds and are located in Woodstock and White River Junction, Vt. Wheelock Terrace and Windham Terrace respectively total 70 and 71 beds and are located in Hanover and Windham, N.H. Frank Cassidy of Walker & Dunlop originated the financing through HUD’s 232/223(f) program on behalf of the locally based borrower, Terrace Communities.
NASHUA, N.H. — Cushman & Wakefield has brokered the sale of a 137,000-square-foot office and industrial complex in the southern New Hampshire city of Nashua. Denis Dancoes, Craig Estey, Mike Christian, Josh Feldman, Dan Fisk, Scott Goldman and Greg Millwater of Cushman & Wakefield represented the seller, Teledyne FLIR Commercial Systems Inc., in the transaction. Thomas Farrelly and Sue Ann Johnson, also with Cushman & Wakefield, represented the buyer, The Academy for Science and Design Charter School. The new ownership plans to implement a capital improvement program.
MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments will develop a 323,750-square-foot industrial project in Merrimack, located in the southern part of the Granite State. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter of 2023.