Novaya Real Estate Ventures Sells 21 Manchester Street in Merrimack, New Hampshire For $3.85 Million
JULY 2015 – MERRIMACK, NH – Novaya Real Estate Ventures, a Boston-‐based real estate investment firm, in joint venture with Bradstreet & Chandler, LLC has sold 21 Manchester Street located in Merrimack, New Hampshire for $3.85 million. The asset, which was initially acquired in December 2013 as part of a three-‐building portfolio, known as Heron Cove Office Park was acquired by an owner/user via an off market transaction and will be used as their new corporate headquarters and call center. The remaining two buildings in the portfolio are 93% occupied by a roster of strong regional and national tenants.
“Our business plan always contemplated the possibility of carving out this building for a potential owner user sale,” said Erika Clarke, Vice President of Asset Management for Novaya. “The market does not have many options for tenants seeking large blocks of space and we were confident that the local amenity offerings and ease of access to highways would make this location ideal for companies looking to secure employees from both Massachusetts and New Hampshire.”
The sale was brokered by JLL and CBRE | New England