News: Northern New England
Posted: March 6, 2014
NAI Norwood Group completes $1.1 million sale
NAI Norwood Group completed the sale of 68 N.H. Ave. (Pease Tradeport). One of the first buildings at Pease in 1998, this 18,500 s/f industrial building on 3.5 acres was originally built for Landovia Corp. and most recently owned by Wencor, a Utah corporation. The sale closed for $1.1 million according to the Registry of Deeds.
"In conjunction with Pease Development Authority, we were able to rezone the lot to suit the end use. It was a great opportunity to work together and have a favorable outcome for all," said Brian O'Brien, RPA, managing broker of NAI Norwood Group's Portsmouth office.
The property was purchased by an Investment Group 68, NH Ave., LLC where they intend to further develop the property for possibly new tenants. O'Brien represented the seller, Wencor Corp.
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