News: Retail
Posted: May 27, 2016
Kenny of Colliers International represents buyer in $4.366 million acquisition
Maxine Kenny, Colliers
International
1547 Greenland Road - Greenland, N.H.
Portsmouth, NH Colliers International, a global leader in commercial real estate services, represented the buyer, Sarnia Properties, Inc. of Portsmouth, N.H., in the off market sale of the newly developed Tractor Supply store at 1547 Greenland Rd. Maxine Kenny of Colliers International | New Hampshire’s Portsmouth office represented the buyer and Michael O’Mara of Atlantic Retail Services represented the seller, Thurken, IV, LLC.
James Kenny, president of Sarnia Properties, Inc. said that he is trying to improve the quality of his portfolio in terms of location, tenants and leases. “This often means accepting lower returns, partially offset by easier management duties and lower tenant turnover. The new Greenland Tractor Supply met all of these objectives in an area we know well. We have a lot of confidence in the Seacoast market and its ability to weather economic hiccups.”
The 5.88 acre Tractor Supply site is a subdivision of a 32-acre development nestled between Rte. 33 and I-95. Other key tenants include Aroma Joe’s, Seacoast Children’s Dental, SoulFire Power Yoga and Max Charles Salon.
According to the Rockingham County Registry of Deeds, the selling price was $4,366,052.
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