Search
 

Brady Sullivan Reaps More Than $8M in Sale

ROCHESTER, NH-The 35-acre multi-tenanted property has 210,000 sf of modern class A industrial.

By Joe Clements | Updated on February 22, 2008

ROCHESTER, NH-Continuing to restock its commercial real estate holdings after harvesting a $516-million slice last summer, Equity Industrial Partners has acquired a two-building development here in southern New Hampshire. Equity paid Brady Sullivan Properties $8.4 million for 132 Milton Rd., a 35-acre complex which features 210,000 sf of class A industrial.

“These buildings are a classic example of Brady Sullivan’s value-added approach to redevelopment,” says principal Charles Panasis. “As a company, we target the acquisition of mostly vacant surplus corporate properties, take on the lease-up risk and retrofit the buildings to meet today’s space user needs.” The park’s tenants include Irving Oil, Northeast Non-Wovens and Stone Wall Kitchens, solid firms that provide a measure of stability for the new ownership, according to broker Thomas Farrelly of Cushman & Wakefield.

“In spite of the capital market fluctuations and softening economy, this offering got the attention of many local, regional and national players,” says Farrelly, a C&W executive director who negotiated the transaction with C&W director Denis Dancoes and Associate Sue Ann Johnson. The team represented the seller and procured 132 Milton Rd.’s buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.