Ashley Furniture store in Nashua sells for $7.7 million

The Ashley Furniture HomeStore on Daniel Webster Highway in Nashua has been sold for $7.7 million.

The name of the buyer was not released, but Chuck Evans of Matthews Real Estate Investment Services, who brokered the sale, said the buyer “was a local who was familiar with the property and its surrounding area.”

He added that the buyer was able to accommodate the seller in a 1031 exchange.

The 83,500-square-footproperty at 168 Daniel Webster Highway was built in 2015 along the busy retail hub. Evans said Ashley Furniture, owner of the property, chose to focus on other development projects.

“The deal fell in and out of contract several times with multiple buyers, but we successfully persevered and closed the transaction despite a few bumps in escrow. In the end, the seller was very pleased with the outcome,” said Evans. “I am very proud of the fact that we were able to close the deal in the face of Covid-19, even though the tenant is not necessarily considered Covid-19 resistant.” Matthews Real Estate Investment Services is based in El Segundo, Calif.