People and Property: Real Estate and Construction News From Around NH
Sig Sauer Rochester campus to grow again, new CFO at Torrington Properties … and more
Sig Sauer Rochester campus to grow again
Sig Sauer, one of the largest firearm manufacturers in the nation, has proposed adding a fourth building to its Rochester campus in the city that opened in early 2022.
The new building is part of a planned phased development of the property, according to Foster’s Daily Democrat. It is planned to be approximately 27,700 square feet, and will attach to two of the three existing buildings at the 7 Amarosa Drive property.
Last April, the firearms maker, headquartered at Pease Tradeport in Newington, landed a $4.5 billion contract from the U.S. Army to produce what it is calling the Next Generation Squad Weapons System, consisting of firearms and suppressors, which will be manufactured at the Rochester facility.
FCCI Insurance writing surety bonds in New England
Florida-based FCCI Insurance Group has begun writing contract and commercial surety bonds in the six New England states.
Phil Shepard is heading the New England regional effort from his office in Keene. He leading the surety line of business expansion in the region, is based in Keene. He has more than 30 years of experience in the financial industry, including extensive experience in contract and commercial surety.
Besides New England, FCCI Surety also expanded this year into the central and western regions of the country as well.
NH Preservation Alliance makes grants to 16 community landmarks
The Concord-based NH Preservation Alliance has announced it has partnered with The 1772 Foundation to distribute a total of $125,000 to organizations throughout the state as part of a Historic Preservation Matching Grants program.
The 1772 Foundation is a Providence, R.I.-based private foundation, which aims to fund historic preservation projects throughout the United States. The NH Preservation Alliance said its staff and a selection committee of experts reviewed applications to determine structures in New Hampshire that were in greatest need of repairs.
The grants will be used to support new roofs, foundation and sill work, repainting, and porch repair.
Grant recipients are: Antrim Grange No. 98;
Colonial Theatre, Bethlehem; Canterbury Shaker Village; Woman’s Club of Concord Chamberlin House; Danbury Historical Society North Road Schoolhouse; Gilsum Historical Society Wright’s Blacksmith Shop; Historic Harrisville Inc. Abel Twitchell House; Haverhill Heritage Inc. Wentworth-Brown House; Haverhill Library; Hill Center Meetinghouse; Lancaster Historical Society Wilder Holton House; AHEAD Affordable Housing Education & Development’s Lisbon Inn; Poore Family Farmhouse; Stratham Library; Sunapee Heritage Alliance’s The Livery; and the Sutton Historical Society’s District 9 Schoolhouse.
Torrington Properties announces new CFO
Torrington Properties, a real estate and development and investment firm headquartered in Boston with offices in New Hampshire, has hired Mike Norris as its new chief financial officer.
Most recently, Norris served as chief compliance officer and director of accounting at Marcus Partners in Boston, where he worked as part of the finance and accounting team for 12 years. In that role, he assisted in the acquisition, disposition, development and financing of over $2 billion in real estate. Prior to Marcus Partners, Norris served as the director of financial and portfolio reporting at New Boston Fund in Boston.
Allenstown commercial property sold
Taylor Saulnier of Mansard Commercial Properties recently completed the $725,000 sale of the 10,300-square-foot building at 77 Turnpike St. in Allenstown. The building, which sits on a 1.93-acre corner lot on Route 3, is configured as an open-concept retail store with a warehouse/storage area for inventory. The building was 100 percent leased to Aubuchon Hardware at the time of sale.
Lakes Region co-working and event space to open
WORK Lakes Region LLC, a coworking and event space being developed by Lakes Region entrepreneur Jodie Gallant of JMG Business Strategies, is set to open in the fall at 51 Elm St. in Lakeport in the fall.
WORK Lakes Region will be a membership-based coworking space offering opportunities by the day and week with flex desks, a private meeting space for two to eight people, one-to-three-person private longer-use offices, and an event center that holds up to 100.
LRCD honors Melcher & Prescott
Lakes Region Community Developers has named Melcher & Prescott Insurance its Housing Champion of the Month for May. Housing Champions are local companies committed to LRCD’s mission of creating new affordable housing opportunities.
In photo, Bill Bald, president of Melcher & Prescott, Carmen Lorentz, executive director of Lakes Region Community Developers, with a sponsorship check.
Rob Byrne joins CBRE as executive vice president
CBRE has hired Rob Byrne as an executive vice president in the firm’s Boston office. He will focus on industrial leasing.
Prior to joining CBRE, Mr. Byrne was an executive with Cushman & Wakefield, for whom he led the Boston industrial team.
Newburyport Bank supports the Realtors golf tourney
Newburyport Bank has made a participant gift of $2,500 in support of the Seacoast Board of Realtors Golf Tournament. The event will be held on Monday, Sept. 25, at Wentworth by the Sea Country Club in Rye, NH, with proceeds to benefit My Breast Cancer Support and the Lori Breard-Weeden Scholarship Fund.
5-story hotel proposed on Rt. 1 Bypass in Portsmouth
A development company wants to demolish an existing motel on the Route 1 Bypass in Portsmouth and replace it with a new five-story hotel with a Starbucks coffee shop on the ground floor.
The Portsmouth Herald reported that Giri Hotel Management, owner of the site at 505 U.S. Route 1 Bypass, and applicant, is scheduled to appear before the city Planning Board Thursday night for a preliminary conceptual consultation on the proposed development.
The location is currently home to Port Inn and Suites Portsmouth, which the developer’s representatives described as 56-room motel.
The proposed Cambria hotel would be five stories with 122 rooms. Cambria hotels are a Choice Hotels brand with over 60 locations nationwide.