People and Property: Real Estate and Construction News From Around NH
Manchester business community grows with new leases, Belmont's Great Brook Village is sold ... and more
Brady Sullivan Properties secured 10 new leases between April and June, spanning from downtown Manchester to the Seacoast. Over 12,750 square feet of space was leased in the Manchester Millyard at the Waumbec Mill, located at 250 Commercial St., to multiple tenants including Maine-based Pine State Trading, a local staffing and recruiting agency, a photography business and a Pilates studio.
Health insurance carrier Cigna relocated from Hooksett and leased over half a floor at the Brady Sullivan Tower at 1750 Elm St. The Tower also secured a long-term agreement with the Veterans Affairs Department after successfully bidding for and being awarded the government tenancy. And Champlain Insurance established its Northeast headquarters at City Hall Plaza at 900 Elm Street, now occupying over half a floor at one of the most prominent business addresses in the state.
Other transactions include a long-term lease for over 6,000 square feet of office space to Ballentine Partners in Rochester, and a +/- 10,000 square-foot high-bay industrial lease with an apparel and accessories distributor at 75 Faltin Drive off South Willow Street in Manchester. The in-house Commercial Leasing Team of Charles Panasis, James Tobin, Jamison Bibaud and Derek Lawton facilitated the transactions on the landlord’s behalf.
Kevin Crane has joined TFMoran’s civil engineering department as a senior project manager in the Bedford office. Mr. Crane holds a Bachelor of Science degree in Civil Engineering from the University of California at Davis, a Master of Business Administration degree from Saint Mary’s College of California, and a Juris Doctorate from the California School of Law. He is experienced in the areas of civil engineering, geotechnical, and structural design, and is a Professional Engineer licensed in New Hampshire, Maine, Connecticut, and California. Prior to joining TFMoran, Mr. Crane worked as a private engineering consultant for over 25 years, designing and overseeing the construction of buildings and infrastructure. His professional memberships include the National Society of Professional Engineers, National Fire Protection Association, and International Conference of Building Officials.
Lynnfield, MA-based Horvath & Tremblay has brokered the sale of Great Brook Village, a 55+ manufactured housing community built in Belmont, NH in 1993. The asset traded for $ 4.3 million at a 6.6% cap rate. The deal includes the land and roads within the community, as well as 65 manufactured home lots, all of which are occupied with permanent tenant-owned homes. Executive Vice Presidents John Pentore and Dennis Kelleher, together with Senior Associate William Peck from Horvath & Tremblay, worked on behalf of the seller and procured the buyer.
Kathleen Ahlin was awarded the 2021 REALTOR of the Year by the Seacoast Board of REALTORS at a reception held at Flag Hill Distillery & Winery in Lee on July 14. Ahlin owns her own brokerage firm, Exit Realty Great Beginnings in Concord. She also serves as a director for the Seacoast Board as well as committees at the New Hampshire Association of REALTORS and president of the NH Chapter of Women’s Council of REALTORS. The award was presented by Lexi Leddy, who was the 2020 REALTOR of the Year recipient.
Stuart Frye of Radius Financial Group in Northwood was recognized as 2021 Affiliate of the Year. Frye has served as the chair of the Board’s successful Golf Tournaments for the past two years as well as Mortgage Action Alliance and Bankers Association.
Doreen Andriola of Re/Max On the Move in Hampton was presented with the Board’s 2nd Annual Good Neighbor Award. St. Vincent de Paul Society in Hampton will receive $1,000 in honor of Doreen’s Good Neighbor Award.
Three local board Members were awarded REALTOR Emeritus Status, which is presented to a REALTOR®who has held membership in the National Association of REALTORS for a period of 40 years, as well as a minimum of one year of service to the National Association. The 2020 recipients recognized are Kathy Rush of Berkshire Hathaway Verani, Beth Paulson of Carey & Giampa and Jim Lee of Re/Max Shoreline and current president of the New Hampshire Association of REALTORS.
Local Honor Society REALTORS® recognized included: Kevin Kneeland, Lynn Lagasse, Laura Pouliot, Adam Gaudet, Marion Cheney, Jim Lee, Kathy Ahlin, Jim Therrien, Rachel Eames, Ann Cummings, and Kathy Rush. Affiliates, who support and participate in Board functions and civic activities, recognized were: Donna Harvey, Paula Frenette, Stanford Cross, Monique Shevlin, Linda Tuttle and Kristina Young.