Tuesday, August 08, 2017

NAI Norwood Group Sells Land in Kittery for One Million Dollars per Acre

Kittery ME – NAI Norwood Group is pleased to announce the sale of 1.96+/- acres located at 275 US Route 1 in Kittery, Maine. The site was the former home of Maine’s original outlet center. Greg Whalen of NAI Norwood Group represented the seller, KTP Shops LLC, in the transaction. It closed on July 27, 2017 in the amount of $1,960,000.

The site will be the new home of a Hampton Inn and Suites. The 32,000+ retail building currently residing on the site will soon begin the demolition process. This project has been a long time coming. It went under agreement nearly three years ago and has fought a long, hard battle through Maine’s court system. For full details on the site renovation or the court case, please contact Greg Whalen at 603-431-3001 or gwhalen@nainorwoodgroup.com.

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.

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