Choate of Grubb & Ellis | Northern New England completes $4.25 million sale

Grubb & Ellis|Northern New England, a leading provider of integrated real estate services, recently sold a 140,885 s/f industrial building located at 25 Nimble Hill Rd. for $4.25 million. David Choate of Grubb & Ellis|Northern New England's Portsmouth office represented the seller, Shandon, Inc. of Pittsburgh, Pa., which was a referral from Hank Amabile from the Grubb & Ellis office in Boston (now Newmark Grubb Knight Frank). Austin Spinella of Minco Corporation of Newburyport, Mass. represented the buyer, 25 Nimble Hill Road, LLC of Madison, Conn. 25 Nimble Hill Road, LLC is the real estate holding company of Pluck Family, LLC, a Connecticut based entity that owns four auto parts distribution centers doing business as New England Parts Warehouse (NEPW). NEPW will relocate its Seabrook warehouse to Newington in early 2013. Brian Pluck, of New England Parts Warehouse, said that his firm chose to purchase the property in Newington "because the property provides us with an attractive and modern facility with ample space for our company to continue to expand. We are confident that selecting a property in the Newington/Portsmouth area with excellent highway access will allow us to not only better serve our existing customers, but will also provide a much larger and more efficient building in which to further extend our customer base. We feel the building represents a substantial upgrade over our Seabrook location and we are certainly proud that the culmination of our efforts in Seabrook has taken us from a 20,000 s/f leased space to our own 140,000 s/f building in just over ten years."