Vol.42, No.14
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W E E K O F M O N D A Y, A P R I L 6 , 2 0 2 0
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
C R E C AT C H E S C O V I D
Hooksett
14 CENTRAL PARK DR . . . . . . . . . . . . . . . . . . . . . . . $12,230,000 B: 14 Central Park LLC S: LSREF4 Dual LLC Mtg: Eastern Bank $9,450,000 Use: Office Bldg-general, Lot: 656449sf
Nashua
138-144 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,900,000 B: Whiting Building LLC S: Ferris Partners Ltd Mtg: Ferris Partners Ltd $1,025,000 Use: Office Bldg-general, Lot: 11238sf
Concord
280 PLEASANT ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: Lorwen C Harris-Nagle S: 280 Pleasant Street LLC Mtg: Camden National Bank $1,650,000 Use: Office Bldg-general, Lot: 155074sf
Durham
565 BAY RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,450,000 B: Richard K Dawson & Linda M Hunter S: Firoze E Katrak Tr, Tr for Katrak Residential T Mtg: Newburyport Five Cent $1,160,000 Use: 4 Bdrm Contemporary, Lot: 222156sf
Merrimack
557 DANIEL WEBSTER HWY. . . . . . . . . . . . . . . . . . . . $1,050,000 B: First Ad Realty LLC S: Brahm Realty 557 Daniel Webster Hwy LLC Mtg: Rockingham Economic $100,000 Use: Commercial Building, Lot: 23087sf
Laconia
61 COMMANDERS HELM . . . . . . . . . . . . . . . . . . . . . . $1,025,000 B: Kenneth R Beck & Maria Beck S: Akwa Vista LLC Mtg: Leader Bank NA $820,000 Use: 3 Bdrm Contemporary, Lot: 15588sf
Charlestown
3507 CLAREMONT RD. . . . . . . . . . . . . . . . . . . . . . . . . $1,002,533 B: Uvass LLC S: DJN Holdings LLC Mtg: Ledyard Natl Bk $802,000 Use: Apartment Bldg - 9 + Units, Lot: 531432sf
Hanover
20 SCHOOL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $975,000 B: Barney L Brannen & Kayla Brannen S: Keith P Quinton & Barbara Fildes Mtg: Mascoma Bank $625,000 Use: 3 Bdrm Conventional, Lot: 5401sf
Pelham
24 BRIDGE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $950,000 B: Ramanbhati K Patel Tr, Tr for 24 Bridge RT S: Donald F Magiera Mtg: Provident Bank $960,000 Use: Retail-department Store, Lot: 59677sf
Tilton
WINNISQUAM VILLAGE CONDO U:C15-1. . . . . . . . . . . . $900,000 B: UL Properties LLC S: JAL Winnisquam Dev LLC Use: Condo
INDEX
Investors Seek Safe Haven Amid Choppy Waters BY STEVE ADAMS REGISTRY REVIEW STAFF
A
s Connecticut nonessential businesses shut down to contain the spread of the new coronavirus, the retail and hospitality sectors are expected to bear the brunt of the short-term effects. “The market is telling us what we would expect: any type of real estate that depends on daily human interaction is getting hit the hardest,” said Kevin Thorpe, chief economist for Cushman & Wakefield, in a recent teleconference. “Hotels and retail and the most impacted right away.” Major hotel chains have shut down hundreds of locations nationwide, and approximately 3,000 collateralized mortgage-based securities loans backed by hotel properties totaling over $86 billion are at stake, debt researchers Trepp Inc. reported. The effects of the pandemic are likely to vary widely by geographic market, American Realty Advisors predicted in a market commentary this week. Industrial markets that rely heavily on imports could see a downturn, but demand for e-commerce could benefit warehouse and distribution markets that were already thriving before the outbreak. Many researchers and economists predict that the multifamily market will remain a safe
It is predicted investors will shift their attention to multifamily properties and real estate that supports e-commerce distribution chains.
harbor throughout the crisis. Doug Harmon, chairman of capital markets for Cushman and Wakefield, said workforce housing landlords could benefit, particularly if large portions of the U.S. workforce lose their jobs.
Every Asset Class Affected Commercial real estate executives predict other property types, such as logistics and workforce housing, could provide investors with safe harbors in a time of unprecedented upheaval. Transactions are taking a pause across the board as investors wait to assess the effects of
supply chain disruption and shelter-in-place orders that have temporarily shuttered vast swaths of the U.S. economy. “The fattest part of the bell curve is pause, stall, wait and see, let’s assess,” Harmon said in this week’s teleconference. “Every asset class has been affected.” The length of the crisis and ability of real estate markets to recover could hinge on fundamentals prior to the quarters, which were considered healthy in most U.S. markets and largely free of overbuilding and excessive leverage.
New Hampshire Market Statistics
TRANSACTIONS THRU
3 Belknap �������������������������� 03/24/20 3 Carroll ���������������������������� 03/24/20 4 Cheshire ������������������������ 03/24/20 4 Coos �������������������������������� 03/24/20 5 Grafton ���������������������������� 03/24/20 5 Hillsborough ������������������ 03/24/20 7 Merrimack ���������������������� 03/24/20 7 Rockingham ������������������ 03/24/20 9 Strafford ������������������������ 03/24/20 9 Sullivan �������������������������� 03/24/20 10 Bankruptcies 10 Lien & Attachments 10 Foreclosure, Mortgagee & Other Lien Auctions 10 Requests for Bids & Proposals
Single-Family Sales By Month 2,500 2500
1,500 1500 1,000 1000 500 500 00
Feb. March Mar. Apr. Apr. May May June July July Jun. Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Feb. ’19
’20
Number 1000 of 1,000 Sales
Number of Sales
900 900 800 800 700 700
600 600 500 500
Feb. Feb. ’15
Feb. Feb. ’16
Feb. Feb. ’17
Feb. Feb. ’18
Feb. Feb. ’19
Feb. Feb. ’20
Feb. 2015 Feb. 2016 Feb. 2017 Feb. 2018 Feb. 2019 Feb. 2020
600 871 781 758 786 697
Continued on Page 12
TO OUR CUSTOMERS
2,000 2000
REAL ESTATE RECORDS PG COUNTY
Virus Ripples Create Safe Harbors, Risky Sectors in CRE
Change Prior Year -4.15% 45.17% -10.33% -2.94% 3.69% -11.32%
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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T
he Warren Group is making every reasonable effort to collect real estate data during these unprecedented times. As more registries restrict access and courts close down, we anticipate further collection issues and as a result you will see fewer sales, notices and liens in The Registry Review. We will publish this information as it is available. We apologize for any inconvenience this crisis may cause, and we thank you for your understanding and continued support of our newspapers. Please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com if you have any questions. All collection issues are also available on our website, www.thewarrengroup.com/ data-collection-issues. Sincerely, Cassidy Norton, Associate Publisher The Warren Group