News: Northern New England

Rohrer and Wright of Colliers sell 104,112 s/f industrial building for $3 million

Bob Rohrer, Colliers International

 

25 Production Avenue - Keene, NH

 

Bryan Wright, Colliers International

 

Keene, NH Colliers International, a global leader in commercial real estate services, sold 25 Production Ave., a 104,112 s/f high bay warehouse/distribution facility. Bob Rohrer and Bryan Wright of Colliers’ Manchester office, represented the seller, Smiths Medical ASD, Inc., and assisted the buyer, Monadnock Economic Development Corporation (MEDC). Smiths Medical continues to maintain its presence in Keene. 

According to the Cheshire County Registry of Deeds, the property sold for $3 million.

Keene-based MEDC purchased the building and leased it to Bensonwood. It is believed that Bensonwood, a design/build firm specializing in energy-efficient timber frame, hybrid, and other high-performance homes and commercial buildings, has an option to purchase the facility. Expanding their operations to Keene, Bensonwood plans to occupy the entire building with their sister company, Unity Homes, and add 20 new skilled employees to their existing 110-person staff. 

This new facility will help to improve the capability, efficiency, precision, and quality that Bensonwood has become known for by adding automated panel assembly lines for routing and nailing, and automation for manipulating panels.

This deal was made possible through a loan from the NH Business Finance Authority, with the support of the NH Executive Council. The project was coordinated through the MEDC, in conjunction with a New Markets Tax Credit investment, which is a federal program aimed toward boosting economic development in lower income areas. In addition, the Executive Council also awarded a Community Development Block Grant, which will go towards redeveloping the building. 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

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.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary