News: Northern New England
Posted: April 2, 2021
Mendola of NAI Norwood negotiates $4.8m sale of 39,825 s/f self storage
Hudson, NH NAI Norwood Group has completed the sale of Hudson Self Storage. The self-storage facility was sold to an institutional buyer for $4.8 million. This property has 39,825 s/f of net rentable space and 321 units. Hudson is on a main thoroughfare in town that connects Nashua, the second largest city in the state, with Londonderry and I-93.
Joseph Mendola of NAI Norwood Group and the Argus Self-Storage Advisor for Northern New England represented the seller and assisted the buyer.
“The barriers to entry are quite high as the land values are expensive and the areas that are properly zoned for self-storage are in more hidden industrial locations. Self-storage properties like this one have not been available for sale for many years. The increase of self-storage properties needed to address the demand in the market comes from new constructions,” Mendola said.
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