Kane Company acquires giant warehouse operation near Manchester airport

‘Demand for quality warehouse space is strong,’ says new owner

The Kane Company Inc. of Portsmouth and a fund managed by DRA Advisors LLC, a New York-based investment firm, have teamed up to acquire The Manchester Logistics Center, a nearly 725,000-square-foot distribution and logistics facility near Manchester-Boston Regional Airport in Manchester.

No purchase price was given for the transaction.

Developed in the 1970s by the True Value hardware retail chain and franchiser, the facility, located at 333 Harvey Rd., houses True Value’s Northeast regional distribution operation.

John Kane

John Kane, principal with The Kane Company

The facility has 75 tailboard height docks, 16 covered docks, 111 tractor trailer parking spaces and clear heights approaching 38 feet, the purchasers said.

The “premier facility” was acquired “at a time when demand for quality warehouse space is strong,” said John Kane, principal with The Kane Company Inc., a real estate investment and development firm. “The anchor tenant is one of the most stable and recognized national brands in hardware retail, and the available space for lease provides a strong marketing opportunity and future revenue streams.”

The acquisition was brokered on behalf of the purchasers by Chris Healey, a vice president with CBRE in Manchester. Cushman & Wakefield has been engaged to market over 180,000 square feet of high-bay warehouse space at the property.

According to Tom Farrelly, executive director at Cushman & Wakefield. “high-bay warehouse space is in high demand right now and we’re confident this building will continue to attract credible tenants.”

Farrelly will head a C&W team that also includes Denis Dancoes, Sean Duffy, Sue Ann Johnson and Kevin Hanna in marketing the available property for lease.

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