News: Front Section
Posted: September 15, 2017
Cushman & Wakefield and Stebbins Commercial Properties broker $9.5 million sale
Manchester, NH The Cushman & Wakefield Manchester team of Thomas Farrelly, Denis Dancoes and Sue Ann Johnson represented Wall Springs LLC (Brady Sullivan Properties) in the sale of Two Wall St. The buyer, The Mental Health Center of Greater Manchester, purchased the property for $9.5 million and was represented by Mike Reed of Stebbins Commercial Properties.
“We truly enjoyed working with Brady Sullivan Properties on this transaction,” said Farrelly. “This is a centrally located, first-class building with unique amenities such as ample visitor parking, and it will provide plenty of space for the Mental Health Center of Greater Manchester to grow.”
Located in the northern business section of the city at the intersection of Wall and Elm Sts., this four-story, 65,000 s/f first-class multi-tenant office building features a two-story atrium lobby of black and tan marble and is one of the few downtown office buildings that offer free visitor parking. Area amenities include restaurants, retail and financial services and cultural venues including the Palace Theatre, Southern New Hampshire University Arena and the Northeast Delta Dental Stadium. It also features on-site property management and a concierge/security guard during business hours.
The Mental Health Center of Greater Manchester entered into a 10-year lease at the property in 2016 with an option to purchase. The building was 89% leased at the time of the sale. Two Wall St. is accessible via exits 5 and 6 off I-293, exit 8 of I-93, and is close to the Manchester-Boston Regional Airport and the Mall of New Hampshire.
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action.
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