NAI Norwood Group Sells Downtown Portsmouth Real Estate

Portsmouth NH – NAI Norwood Group is pleased to announce the sale 46 Market Street in downtown Portsmouth, New Hampshire. Nancy and Mel Alexander recently sold their 3 story building to Keith Frizzel.

John Mueller, Greg Whalen, and Bill Wagner of NAI Norwood Group teamed up to represent the Alexander’s and to find a buyer. According to the registry of deeds, the building sold for $1,599,000 and was closed on August 28th, less than 90 days after it was listed.

In addition, Mueller and Whalen also teamed up to sell the retail condominium located at 36 Market Street.  Formerly owned by the Paper Patch, the 3,964 two-level structure is the new home for Federal Cigar and the Federal Cigar Bar which opened in August.  Mueller represented the seller while Whalen represented the buyer.

“Retailers and investors are seeing value in expanding their footprints downtown,” noted Mueller, “These recent two projects showcase that growth, as well as the importance of building a team to help navigate the regulatory environment within the City.”

The Mueller, Whalen, Wagner team (MW&W) brings over a combined 75 years’ experience in commercial real estate transactions, a majority of which has involved real estate located in the Seacoast, and downtown Portsmouth in particular. MW&W has the local knowledge you can rely upon, and one of our specialties is the downtown Portsmouth retail market. NOTHING BEATS LOCAL KNOWLEDGE, AND WE HAVE IT!

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 Announces Sale to Cumberland Farms

Epping NH – NAI Norwood Group is pleased to announce the sale of .9 acres of land to Cumberland Farms on Route 125 in Epping. John Mueller, of NAI Norwood Group, represented the seller, Goodrich Brick and Stone, in the transaction.

Cumberland Farms wanted to improve their location in Epping, but would move only for a premier location.  When Goodrich Brick and Stone decided to subdivide their property at 99 Calef Highway, Cumberland jumped at the chance. The property has been subdivided and approvals are in place for the entire site to become an exceptional destination for new retail in Epping. Contact the broker to discuss the remaining portions of this site.

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 Leases Former Gary Blake Motorcars

Exeter NH – NAI Norwood Group is pleased to announce the lease of the former Gary Blake Motorcars location at 84 Portsmouth Avenue in Exeter NH. The 4,000+/- SF free standing building was leased to Northeast Credit Union. John Mueller of NAI Norwood Group represented the owner/lessor, Gary Blake, in the leasing of this exceptional retail property on Portsmouth Avenue in Exeter.

The tenant, Northeast Credit Union, is a long-term well respected financial services company that sought a long-term tenancy in a high profile location.  The tenant was the perfect tenant to fill the vacancy caused by the recent retraction of the auto sales business.

“In the last 18 months, this is the second property that NAI Norwood Group has represented in which Northeast Credit Union became the tenant. We are happy to help match property owners with excellent tenants.” Said Sarah Carson, Marketing Director at NAI Norwood Group.

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.

Route 125 Corridor – Growth Continues in Epping

As the economy stabilizes, interest in the route 125 Corridor has been rekindled. “Epping will be one of the first areas to start growing again,” according to brokers that represent national businesses and retail tenants. “Market Basket is doing gangbusters, and O’Neil Theaters is close to breaking ground – that will bring a lot of new customers to Epping.” And Exeter Hospital is seeking approvals to open a larger, 10,000 SF primary care facility in Epping.

I’ve been aware of the impact of the completed NH 101 ever since I researched population growth along it. The towns along NH 101 grew at a rate at least 55% faster than the average growth rate for the state, in great part because driving east and west, between I 95 and I 93, was faster and easier than ever before. And the single fastest growing community was Epping. Now that the economy is showing signs of life, major expansion plans are being executed and we will see the differences in the next 18 months. CVS, Exeter Hospital, and O’Neil Theaters, along with other major retail tenants have plans to open soon in Epping.

Once the retail market reaches a certain density, I expect office and service uses to look more closely at Epping as well. The development and utilization of office space typically follows retail growth – it’s easier to hire employees when they can fulfill their shopping and dining requirements close to where they work. For example, since the Rockingham County Courthouse complex is only 2 miles south in Brentwood, it’s only a matter of time until more law firms open offices in Epping. Because of careful planning for growth, the availability of land and a convenient road way network, Epping is on the move again.

John Mueller