Dealmaker: Cushman & Wakefield Arranges $69M New Hampshire Industrial Sale

Cushman & Wakefield, New York, arranged $69 million for the Northeast Industrial & Flex Portfolio, a four-building portfolio totaling 593,000 square feet in New Hampshire.

Cushman & Wakefield’s Dave Pergola, Brian Doherty and Pete Rogers, with support from local leasing specialists Tom Farrelly, Denis Dancoes and Sue Ann Johnson, represented seller Albany Road Real Estate Partners, Boston, in the transaction. Tom Sullivan, also of Cushman & Wakefield, arranged financing.

Lincoln Property Co., Dallas, acquired the portfolio, which Albany Road has owned since 2019.

“With numerous upgrades recently completed and strong occupancy history, the portfolio provides investors with a stable cash flow and diverse rent roll,” Pergola said. “The demand for industrial property in the northeast market is incredibly high with relatively no supply of available product.”

The portfolio includes four properties located at 5 Wentworth Drive in Hudson, 22 Cotton Road in Nashua, 1050 Perimeter Road and 645 Harvey Road in Manchester. All four assets underwent recent capital improvements including façade and roof upgrades. The portfolio is 94% leased to 18 tenants.

The properties feature highway access near the Manchester-Boston Regional Airport.