Newfields, NH–Taylor Saulnier, CCIM of MANSARD completed the sale of a 116,000 SF warehouse in Newfields, NH.
The building was 100% leased to a home textile company that’s been occupying the site since 2009 for nationwide distribution. MANSARD exclusively represented the Seller and directly procured the Buyer for a sale price of $5,150,000. More than 10 offers were generated, which ultimately resulted in an all cash closing.
Newfields is located in Rockingham County, and the subject property is located just 5 minutes off RT 101. Bordering towns include Stratham, Exeter, Epping & Newmarket. This value add investment is currently utilized as a national distribution center. The building features 116,000 SF of warehouse/manufacturing space positioned in Rockingham Counties highly demanded Industrial market, with a 1% industrial vacancy rate. The property is leased to Great Bay Home at 50% below market rent. The building offers heavy power, 2 drive-in bays, 5 loading docks, rail access and ample ceiling heights of 13’6”.
The Seller, Mike O’Neil said “I’m in the process of my third property sale with Taylor, and upon completion she will have sold more than 350,000 square feet of industrial assets for me. I’d recommend Taylor with full confidence to anyone looking to sell their industrial property.”
CoStar reports that in terms of square footage, the sale of 16 Swampscott Street is currently the largest industrial transaction in New Hampshire for the year 2023.
Saulnier, who specializes in Southern NH Industrial assets described the transaction as “a picture perfect value add deal providing immediate cash flow to an investor with 50% below market rent.” Saulnier also added that she’s “laser focused on Southern NH’s industrial market”. The tenant at 16 Swampscott Street occupied approximately 110,000 sf and there is a 6,000 sf section comprised of 55 self storage units. The warehouse is situated on 6.5 acres featuring 2 drive ins, 5 loading docks and a 13’6’’ ceiling. The transaction closed on March 3, 2023 between O’Neil Warehouse Company as the Seller, and Big Blocks LLC, as the Buyer.
MANSARD also recently closed the sale of an 80,000 SF warehouse on behalf of the same Seller. This 80,000 sf warehouse located at 44 Industrial Park Drive in Dover, NH sold via private sale to RJ Kelly Co for $8,000,000 in Q4 2022.
