People and Property: Real Estate and Construction News From Around NH
Concord office building sold for $10.5 million … and more
An entity of Manchester-based Kelley Family Properties has sold 6 Loudon Rd., a 65,520-square-foot office building in Concord, to Sarnia Seacoast LLC for $10.5 million. The Kelley entity, JP Irving LLC, acquired the property in 2019 for $5.6 million. “I’m pleased we were able to add the value to this asset that we did, in such a short period and through some challenging times within the office market that were brought on by the Covid-19 pandemic,” said the firm’s Benjamin Kelley. The property features a diverse tenant mix, including several dental and medical uses, many of which were recently renewed on long-term deals, he said. Ethan Cole of North Atlantic Commercial Real Estate Investments LLC represented the buyer in the transaction and worked directly with the sellers.
The River Valley Club, a 9,000-square-foot health fitness facility and childcare facility in Lebanon, has received a $7.5 million loan for facility improvements from the NH Business Finance Authority. The loan comes through a new lending program made up of funds from the U.S. Treasury Department’s State Small Business Credit Initiative. The loan, made in partnership with Ledyard National Bank, will be used to expand and modernize the facilities so the daycare can add space for another 60 children. It currently has 188. For more information about BFA programs and resources, visit NHBFA.com.
Community Toolbox of Portsmouth has become a program of Southeast New Hampshire Habitat for Humanity. Both organizations seek to provide housing resources and assistance to families in need, and in recent years, said Marcie Bergan, executive director of SENH Habitat, the mission has grown to include assistance for veterans and for seniors aging in place.
Wood & Clay, a Gilford company that specializes in custom home construction and renovations, has purchased another $25,000 in New Hampshire business tax credits to support redevelopment of the Gale School in Belmont. Last year, the company purchased $50,000 in credits. The project seeks to transform the historic schoolhouse into a community facility that will include a new program center for Lakes Region Community Services.
Bill Stevens of Hooksett, president and owner of Harvey Construction Corp., has been named to the board of directors of St. Mary’s Bank. Currently serving on the Catholic Medical Center cabinet, Stevens is a member of the Manchester Country Club Finance Committee and NH Associated General Contractors Building and PAC Committee.
The U.S. Department of Housing and Urban Development is awarding a $5.4 million grant to the city of Manchester to help protect families with small children from the dangers of lead-based paint exposure. The funding, announced by U.S. Sen. Jeanne Shaheen and Maggie Hassan and Congressman Chris Pappas, the funding consists of $4.7 million through the Lead Hazard Reduction Grant program intended to maximize the number of children under the age of 6 protected from lead poisoning plus an additional $700,000 in Healthy Homes Supplemental funding to help identify and address other housing hazards that affect occupant health.
Homeowners in Foothills Estates MHP, Campton, recently purchased their 94-unit manufactured-home park, making it New Hampshire’s 145th resident-owned community (ROC). Using training and technical assistance from the New Hampshire Community Loan Fund’s ROC-NH team, homeowners organized and formed Two Rivers Mobile Home Community Cooperative in early May. The cooperative negotiated with the park’s owner, Mike Burnham, reached a $4 million purchase price, and finalized the deal on Aug. 31 with a mortgage from the Community Loan Fund.
Janet Nickerson of Badger Peabody & Smith Realty has earned the C2EX (Commitment to Excellence) endorsement from the National Association of Realtors. The program includes measuring proficiency in 11 aspects of professionalism, ranging from customer service to use of technology. Nickerson is managing broker in the firm’s Berlin office.