News: Front Section
Posted: October 14, 2022
Stubblebine reps Metcon Realty in $20.838m sale to Albany Road Real Estate
Plaistow, NH Albany Road Real Estate Fund III, LLC has acquired 144 Main St., a fully leased 177,170 s/f industrial building on 36 acres, from Metcon Realty, LLC.
James and David Stubblebine, principals and Ellen Garthoff, senior advisor at The Stubblebine Company represented the seller, Metcon Realty LLC, and directly procured the buyer, Albany Road Real Estate Fund III, LLC. The sale price was $20.838 million.
144 Main St. has proximity to the Massachusetts border, Rte. 495, and Rte. 125.
144 Main St., formerly occupied by Chart Environmental and most recently Methuen Construction boasts heavy power, 40’ clear height in the majority of the building, and multiple cranes. The building is fully leased to multiple industrial companies.
Founded in 2012, Albany Road is an opportunistic private equity real estate firm headquartered in Boston with other locations in Nashville, Dallas, and Denver.
Albany Road invests within middle-market, commercial real estate, and utilize their “can-do,” entrepreneurial spirit to capitalize on such opportunities through disciplined operations.
According to David Stubblebine, Albany Road made an astute decision to buy a high-caliber, class A multi-tenant industrial asset.
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