Real Estate and Construction News wrapup
Quail Hollow expansion, Star Lumber site work to begin … and more
New Hampshire Housing has approved $1 million in federal HOME funding for Green Mountain Development Group to construct an additional building at the Quail Hollow senior living community in Lebanon.
The new building, to be named Quail Ridge, will offer a mix of both affordable and market rate rental units for seniors. It will be the fourth phase of Quail Hollow, which provides optional on site supportive services to its residents.
Construction is expected to begin this month on the first of two buildings planned for the former Star Lumber property in Rochester.
Goodwill Industries has signed a lease to occupy the 15,500-square-foot stand-alone building, which will replace its Dover store, according to Foster’s Daily Democrat,
Kent White, principal broker with CBRE-Portsmouth, told the newspaper construction won’t begin on the second building – a strip mall-style facility until a large tenant or multiple smaller tenants sign leases. As of now, the entire second building is available.
Developers are targeting retail businesses for the space but are open to other uses, he said.
“We’ve had interest from some restaurants but nothing has been finalized,” White said.
Brady Sullivan Properties has acquired the 210,000-square-foot 3000 Goffs Falls building in Manchester that previously was home to Anthem Blue Cross Blue Shield. The property consists of two four-story buildings.
3000 Goffs Falls offers between 10,000 SF to 200,000 SF of Class A Office Space available for lease, Arthur Sullivan of the firm.
Christina Day of Northfield has joined the Laconia office of Roche Realty Group. She previously was a bank service representative oat Bank of New Hampshire.
NAI Norwood Group has announced the sale of Speedway Self-Storage on Route 106 in Loudon. The facility consists of three buildings totally 6,875 square feet and 59 units. Joseph Mendola of NAI Norwood represented the seller, Phillips Family Trust, and Bruce Holt of Century 21 Country Lakes Realty represented the buyer, Holt Acquisitions LLC. Sale price was $300,000 according to the Registry of Deeds.
Jewett Automotive Design & Construction, Raymond, has completed renovations to Volkswagen of Rochester in Rochester.
Designed by Port One Architects, the 12,000-square-foot design-build project includes a new enclosed service drive; new flooring, ceiling tiles and lighting in the showroom; as well as exterior upgrades.
CBRE-Portsmouth also has announced that Sunrise Farms has leased 9,000 square feet of warehouse space at 14 Railroad Ave., Epping.
Sunrise Farms is a producer of yogurts, spreads and cheeses as well as shelf-stable products such as syrups, relishes and glazes which are sold under a number of private labels.
Christian Stallkamp of CBRE-Portsmouth represented the landlord in the transaction.
Northway Bank has purchased $2,500 in tax credits to aid the Laconia Area Community Land Trust.
New Hampshire’s Community Development Finance Authority awarded LACLT $500,000 in tax credits to sell to businesses through its Tax Credit Program. Proceeds from the sales are being used to upgrade 60 units of LACLT’s permanently affordable rental housing, many of which are showing significant wear and tear.