People and Property: Real Estate and Construction News From Around NH

MVSB expands into Exeter with new full-service banking office

MVSB’s new branch location located at 2 Meeting Place Drive in Exeter is slated to open in early summer 2024. Rendering by Warrenstreet Architects, Inc.

Meredith Village Savings Bank (MVSB) will open a new branch office located at 2 Meeting Place Drive in Exeter in early summer 2024, with construction to begin late this summer or early fall. The new building was designed by Warrenstreet Architects, Inc., with a similar style to the bank’s Rochester and Portsmouth locations featuring stone and cedar cladding, and construction is being managed by Conneston Construction, Inc.

“We are honored to announce the expansion of MVSB to the Exeter area with a state-of-the-art facility that will serve customers and the community for many years to come,” said Marcus Weeks, MVSB president.

“This new branch location honors the Bank’s commitment to serving the Seacoast region, providing enhanced convenience for existing customers in the region, and offering a new banking resource in the community. The town of Exeter has been very welcoming to us and we are excited to be a part of the wonderful culture of civic and business engagement in this Main Street community.”

Nobis Group names new president/CEO

Chris Adams

After 34 years of service, Ken Koornneef, has retired from his position as president and CEO of Nobis Group, an engineering and environmental services consulting firm in Concord that is also 100% employee owned. To fill the position, the firm hired professional civil engineer Chris Adams, PE.

With over 24 years of service at Nobis Group, Adams has held multiple positions including, most recently, vice president of operations and member of the board of directors. Adams has a proven history of success in the consulting and engineering industry and brings this wealth of knowledge and strategic vision to lead Nobis Group into the future.

Bartell of Mansard sells 3,633 SF medical office condo in Marlborough, Mass.

Mansard recently announced the sale of 28 Lord Road, Suites 225 & 255, in Marlborough, Mass. The property sold for $450,000 to Yi Zhou, who will use the site to expand their medical practice into Marlborough.

The multi-use medical office condo is 3,633 square feet, and was viewed as an opportunity for medical providers seeking to maximize accessibility along I-495.

Josh Bartell, commercial real estate advisor at Mansard, shared, “ We were happy to help Pat and Bob experience a smooth transition of closing down their practice and marketing their property. Marlborough can rest assured that there continues easy access to be capable care providers in their area.”

Torrington Properties acquires Mall at Fox Run in Newington

Torrington Properties has acquired the Mall at Fox Run in Newington from Morgan Stanley. The more than 250,000-square-foot mall is home to over 60 stores and restaurants, including local and national retailers such as Seacoast Cars & Coffee, Aeropostale, American Eagle, Bath & Body Works, H&M, LOFT, Men’s Wearhouse and Yankee Candle.

Torrington’s immediate plan is to maintain the current tenant profile while attracting new businesses to fill existing vacancies. The Spinoso Real Estate Group, which managed the property under the previous ownership, will continue in this role under Torrington.

“The Mall at Fox Run is a storied regional property with the potential to once again become a high-traffic, vibrant destination,” Torrington CEOJay Bisognano said. “As we consider ways to improve the experience, we will engage with top consultants in the field and begin studying the best innovative ideas from across the country to bring to Newington.”

Torrington closed on the mall property in November 2022.

Torrington previously acquired the 130,400-square-foot, vacant former Sears store at the mall for $11.5 million in October 2022, and the nearby 15-acre Newington Park Shopping Center for $13.3 million in 2021, where it is currently developing a Chick-Fil-A.

Torrington is studying similar developments across the country to make the Mall at Fox Run and Newington Park Shopping Center a mixed-use community destination that would potentially include other commercial uses like office, entertainment and a hotel.

In June 2023, Torrington acquired the Mill Road Plaza in Durham for $8.8 million as part of its focus on grocery-store-anchored, community-focused plazas.

In June 2022, Torrington completed New Hampshire’s largest commercial office real estate acquisition in recent years with the $46.9 million purchase of 100 Domain Drive in Exeter. The 263,000-square-foot building’s tenant roster includes Bauer Hockey, FH Cann & Associates and Garnett Hill.

It also signed a deal with ConvenientMD to relocate its corporate headquarters in the 44,000-square-foot commercial building at West End Yards in Portsmouth, where Buffalo Wild Wings Laney & Lu and F45 Training are located.

Commercial real estate development, investment and property management company Torrington Properties has acquired the Mall at Fox Run in Newington. (Courtesy photo)

Foxfire Property Management expands team with new hires

Foxfire Property Management, a Concord-based property management company, has added three new members to its team. Nathaniel Brown joins as the new commercial property manager, Victoria Poland as a legal intern, and Cynthia Provencher as a staff accountant.

Nathaniel Brown brings extensive experience in managing residential and commercial condominiums with Crowninshield Management and apartment management with John M. Corcoran & Co., where he earned his Accredited Residential Manager (ARM) designation.

Victoria Poland, a law student at the UNH Franklin Pierce School of Law, joins as a legal intern, assisting with property transactions, permits and variances.

“We are excited to welcome our new team members,” said Steve Duprey, president at Foxfire Property Management. “Their expertise will enhance our ability to deliver exceptional service to our clients and drive our continued success.”

Foxfire Property Management is committed to attracting top talent and is recognized as a leading property management company in New Hampshire.

Cynthia Provencher

Victoria Poland

Nathaniel Brown