Marcus & Millichap arranges $2.85 million sale of 22,000 s/f warehouse

Londonderry, NH Marcus & Millichap brokered the sale of a 22,000 s/f industrial warehouse for $2.85 million.

“We deliberately targeted owner-users who could unlock the building’s full potential,” said Luigi Lessa, director of investments. “That strategy paid off in a tight bidding environment, delivering near-ask pricing for our client despite a challenging schedule and several moving parts.”

Lessa, Harrison Klein and Mattias Edenkrans, investment specialists in Marcus & Millichap’s Boston office, represented the seller, John Bacheller, in association with Thomas Shihadeh, Marcus & Millichap’s broker of record in New Hampshire. The buyer, Source1AV, was procured by Dan Scanlon of Colliers.

“New Hampshire’s pro-business tax climate and streamlined permitting continue to push buyer activity north of the border. Comparable class B assets in suburban Massachusetts routinely command higher price per s/f premiums, making southern New Hampshire an attractive and cost-effective alternative for growing companies,” said Lessa.

Located at 49 Harvey Rd., the warehouse features four loading docks, two grade-level drive-in doors, a 16-ft. clear height and 48 parking spaces. The 2.1-acre site is situated less than three miles from Rte. 3 and two miles from Manchester-Boston Regional Airport, providing excellent access to local and regional distribution routes.