News: Northern New England
Posted: July 7, 2017
Rohrer and Wright of Colliers sell 104,112 s/f industrial building for $3 million
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.
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