Vol.42, No.38
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W E E K O F M O N D A Y, S E P T E M B E R 2 1 , 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
DISTRIBUTED RISK
Portsmouth 263 ROCKLAND ST. . . . . . . . . . . . . . . . . . . . . . . . . . . $4,800,000 B: Fall Line Properties LLC S: Portsmouth Pl Apt LLC
Gilford 40 DINSMOOR POINT RD . . . . . . . . . . . . . . . . . . . . . . $2,700,000 B: Leonard J Samia Tr, Tr for 40 Dinsmoor Point LJS RT S: Bonnie S Thomson & Robert H Thomas Jr Mtg: Rockland Tr Co $2,025,000 Use: 6 Bdrm Contemporary, Lot: 70132sf
Lee
State Industrial Market Could Defy National Expectations Tight Market Could Insulate Against Recession Risks BY KEITH LORIA REGISTRY REVIEW STAFF
5 DARBY FIELD CMN . . . . . . . . . . . . . . . . . . . . . . . . . $2,525,000 B: Darby Field Commons LLC S: 70 Summit LLC Mtg: Mascoma Bank $2,610,000
Holderness 13 HOWARD RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: Martin Himmelbauer Tr, Tr for Shadbush Properties RET S: Daniel J Healey & Pamela J Healey
Rochester 2-6 N MAIN ST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,850,000 B: MSR Northeast Hldg LLC S: 1st Regional Funding LLC Mtg: Main Street Bank (MA) $3,109,500 Use: Mixed Use-prim Res & Comm, Lot: 4792sf
New Castle 4 MILL POND RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,840,000 B: DRB Estates LLC S: William C Hand Tr, Tr for William C Hand RET Use: 3 Bdrm Contemporary, Lot: 11761sf
Hudson 12 TRACY LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,689,866 B: Superior Plus Energy Svcs S: Ryff 3 LLC Use: Office Bldg-general, Lot: 108421sf 13 TRACY LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,574,133 B: Superior Plus Energy Svcs S: Ryff 3 LLC Use: Bottled/propane Gas Tanks, Lot: 97879sf
Litchfield FIREFLY WAY L:14-1 TO 6 & 14-9 TO 14. . . . . . . . . . $1,500,000 B: K&M Developers LLC S: John B Noseworthy Tr, Tr for Mcquesten FT
Bartlett 53 PEAR MOUNTAIN RD. . . . . . . . . . . . . . . . . . . . . . . $1,495,000 B: Charles A Garrard Tr, Tr for Charles Garrard T S: Debra M Shade Tr, Tr for Debra M Shade RET
N
ew Hampshire is likely to buck a national forecast that predicts a significant slowdown in the industrial real estate sector between now and mid-2021, local market-watchers say. A report by NAIOP issued last month projected the U.S. industrial market would experience a drop-off in demand during the second half of 2020, citing the recession and COVID19 fears and the inability of some industrial properties to be adapted for e-commerce. Industrial space absorption will drop sharply in this quarter to negative 141 million square feet, and not rebounding to positive levels until the second quarter of 2021, the report said. Considering the industrial sector is a bright spot in New Hampshire – with rents reaching the $100 per square-foot mark – this would be a dramatic reversal. But while demand may slacken thanks to different factors, requirements for industrial space in the state won’t contract dramatically, said Christian Stallkamp, senior broker at the Portsmouth office of The Boulos Co. “Our industrial market is still really tight in terms of available product,” he said. “To illustrate this point, normally, there would be four to six options of anywhere from 25,000 to 50,000 square feet. However, currently there is only one 25,000-plus-square-foot building available for lease in Portsmouth that is a solid option for an industrial user.”
REAL ESTATE RECORDS
500
3 Belknap �������������������������� 09/04/20 4 Carroll ���������������������������� 09/04/20 4 Cheshire ������������������������ 09/04/20 5 Coos �������������������������������� 09/04/20 5 Grafton ���������������������������� 09/04/20 6 Hillsborough ������������������ 09/04/20 9 Merrimack ���������������������� 09/04/20 10 Rockingham ������������������ 09/04/20 12 Strafford ������������������������ 09/04/20 14 Sullivan �������������������������� 09/04/20 14 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
400 300 300 200 200
July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July July ’19
’20
Number 650 of Sales 650 575 575 500 500 425 425
350 350 275 275 200 200
July July ’15
July July ‘16
July July ’17
July July ’18
July July ’19
July July ‘20
Continued on Page 16
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700 700 600
TRANSACTIONS THRU
James Prieto, director of real estate for Nashua-based Granite Commercial Real Estate, said things have been steady in the southern part of the state for a long time, with per-squarefoot rents around $7, triple net, for warehouses and non-specialized industrial properties. “Now, we’re starting to see an uptick as companies are looking in Southern New Hampshire for opportunities that may be a little more economical than the Boston mar-
Number of Condo Sales
INDEX PG COUNTY
Chris Norwood, president of Bedford-based NAI Norwood Group, called the current market steady to strong due to low vacancy and general interest activity. “I disagree with NAIOP’s report as we are already into the second half of the year and we’re still quite busy on the industrial sector,” he said. “I’ve been out on tours with tenants ranging from 10,000 to 40,000 square feet and the reality is there’s not space for them to fill. So, there’s no activity, but it’s not for lack of trying.”
New Hampshire Market Statistics
Somersworth 187 ROUTE 108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 B: Somersworth Industrial Pk S: James C Sedgewick Tr, Tr for Richard D Sedgewick FT Mtg: Provident Bank $1,050,000 Use: Commercial Warehouse, Lot: 235224sf
Not enough industrial inventory in the state’s commercial real estate market means New Hampshire is not likely to see a recession-induced drop in demand for industrial product, market-watchers say.
Year
Number of Sales
Change Prior Year
July 2015 July 2016 July 2017 July 2018 July 2019 July 2020
555 444 543 629 569 546
15.63% -20% 22.3% 15.84% -9..54% -4.04%
q Statistics based on condominium sales over $1,000 q Source: The Warren Group
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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