News: Front Section
Posted: July 12, 2024
Kelleher, Peck and Pentore of Horvath & Tremblay sell Longwoods Mobile Home Park for $5 million
Deering, NH Dennis Kelleher, William Peck, and John Pentore of Horvath & Tremblay have completed the sale of Longwoods Mobile Home Park at a sale price of $5 million.
Longwoods Mobile Home Park is located at 43 Martin Rd. The property includes all of the land and roads within the community, as well as 98 mobile home sites. Originally established in 1979, Longwoods Mobile Home Park is positioned on 192.2 acres and offers a park-like setting. Of the 98 sites, 89 of them are currently occupied by homes. Additionally, 14 of the homes are park-owned homes which ownership can rent out and will transfer with the property. The lots are stubbed for electricity and the tenants pay their electric and heating bills directly. The landlord is responsible for the well and septic maintenance and expenses.
Longwoods Mobile Home Park offers upside by bringing currently below market rents to market rates. Additionally, the property offers the potential to bring on-line at least an additional 46 sites, significantly increasing the income potential of the property. The individual home sites are well spaced and surrounded by mature trees and shrubbery with paved roads and private parking facilities for each site. The Contoocook River winds along the west and north sides of the property. The property benefits from access to the area’s primary roadways. The property is one-mile from Deering Center Rd. (NH Rte. 149), which is the primary commercial corridor in neighboring Hillsborough, and 2.7 miles from the Franklin Pierce Hwy. (US Highway 202 and NH Rte. 9). Hillsborough is home to numerous national and local retailers that serve the needs of area residents including Shaw’s (grocery store), Tractor Supply Co, NH Liquor & Wine Outlet, Aubuchon Hardware, Rite Aid, Dollar General, Family Dollar, Circle K, McDonald’s, and Dunkin’.
Horvath and Tremblay is one of the most active and successful investment real estate brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,