2111 Route 37 West — Courtesy: Marcus & Millichap
By Joshua Burd
An unnamed company has paid $1.175 million to acquire a nearly 10,000-square-foot retail site in Manchester, Marcus & Millichap announced Friday.
The brokerage firm, which arranged the deal, said investment specialists David Thurston and Charles Loccisano had the exclusive listing to market the property at 2111 Route 37 West. The 9,790-square-foot property is known as GreenTree at Manchester, consisting of a two-tenant, two-building retail center with a ground lease to STS and a lease to Spirits Express.
The team also secured and represented the buyer, which was a limited liability corporation.
“GreenTree was widely marketed, resulting in many offers from buyers at Marcus & Millichap and other brokers,” Thurston said in a prepared statement. “The marketing developed into bidding for the property, yielding a price and terms very satisfactory to the seller.”
The center is newly built and is on a major retail corridor surrounded by recent residential construction, according to a news release.
“This was the second property we have sold for the seller,” Loccisano said. “Our comprehensive marketing and follow up during the entire process through closing makes the process easy for our sellers.”