NAI Norwood Group Sells 120 Unit Apartment Complex in Laconia

Laconia, NH – NAI Norwood Group is pleased to announce the sale of Lakeshore Estates in Laconia, NH. Andy Fleisher, CCIM, represented the seller, and assisted the buyer in the sale. Lakeshore Estates is a garden style apartment complex consisting of 4 buildings, 120 units and 118,032+/- SF. According to the Registry of Deeds the sale closed March 10, 2014 for $4,900,000.

The lead financing was handled by Andre Tremblay, Vice President and Commercial Loan Officer with Franklin Savings Bank in Bedford, NH. Secondary financing was with Sugar River Bank.  Andrew Prolman, an attorney with Prunier & Prolman P.A., in Nashua, NH, assisted the buyer in this complex transaction.  This was the first time this property had been available for purchase in over 30 years. The Property was 93% leased at the time of the sale, and consists of 4, three-story buildings and a recently renovated swimming pool. The new owners intend to continue to manage this complex as the previous owners had, and they will continue to upgrade the interior of the apartments as well as updating other aspects of the Property. 

NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

NAI Norwood Group Offers Tour of Power Sale Property

NAI Norwood Group is pleased to offer a personal guided tour of one of its two Power Sale properties located in Laconia, NH this coming Monday, November 16th through Wednesday November 18th. We will be able to answer any and all questions about the Power Sale, which is to be held on Thursday, November 19th. Please call our office today to schedule a tour. (603) 668- 7000.

Two facilities are being offered: a 50,000+/- SF facility on 8 acres at 109 Industrial Park Drive in Franklin, NH and a 48,652+/- SF building on 13.6 acres at 51 Growth Road at the intersections of Routes 106 & 107 adjacent to Route 3 in Laconia, NH.

The Seller will provide up to 100% financing. Franklin and Laconia will be sold in a timed online auction in the Commercial Property PowerSale™, an Accelerated Marketing Program created by NAI Global to bring together motivated buyers and sellers of commercial real estate assets. In all, more than 70 properties valued in excess of $250 million are being offered in the sale.

Both properties are inclusive of 8,270 square feet of furnished office space. There is 22’ height clearance with docks as well as drive-in capability. Heavy power is available offering 3,000 amps, municipal water and sewer. These properties built just 10 years ago are in excellent condition and flexible for a variety uses from distribution to heavy manufacturing.

The Commercial Property PowerSale™, an ongoing series of national, multi-seller online auctions and sealed-bid sales, gives property owners and financial institutions the opportunity to sell their asset quickly, reducing their holding costs and securing true market value for the property. Sellers benefit from the tremendous marketing leverage created by aggregating properties from multiple sellers into a series of nationally marketed events. Sellers are assured a shortened sales process and a date certain sale schedule.

For more information, contact Karl E. Norwood at 603.668.7000 ext. 202.