News: Northern New England
Posted: April 7, 2017
Wason Associates negotiates sale of two properties totaling $6.8 million
The Best Western Plus - Bennington, VTBennington, VT Wason Associates Hospitality Real Estate Brokerage Group (Wason Associates) completed the closing and sale of two properties – The Best Western Plus, located in Bennington, and The Palmer House Resort in Manchester, VT.
The Best Western Plus is located near Bennington College and several ski resorts. The property was acquired by S.K.B.W.V. Acquisition LLC for a final purchase price of $3.8 million. The property boasts 58 renovated rooms and a spacious owner/property manager residence.
Situated on 16-acres, The Palmer House Resort was purchased by Palmer House LLC and finalized for a sale price of $3 million. The 50 guest room property is surrounded by the Green Mountains and features a 9 hole golf course and trout pond.
“These two properties demonstrate great market potential, and we are pleased to have secured the successful transfer of both,” said Joe Cardillo, broker associate and Vermont licensed broker for Wason Associates. “With prime locations and proximity to year-round activities, the ideally-situated properties attract business and leisure travelers and prove to be mutually beneficial to all parties involved.”
Tags:
Northern New England
MORE FROM Northern New England
Northern New England
November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash
While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
Columns and Thought Leadership
Interest rates and inflation - by Matthew Bacon
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
Residential is here to untie the office space doom loop - by Thomas House
The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
The Greater Portland industrial mid-year market update - by Nate Roop
The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for