Vol.44, No.28
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W E E K O F M O N D A Y, J U LY 1 1 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
INDUSTRIAL DEMAND
Hooksett
1461 HOOKSETT RD. . . . . . . . . . . . . . . . . . . . . . . . . . $5,000,000 B: Frances Street 18 LLC S: Kassas RE Development Inc Mtg: Northern Bk & Tr $18,522,980 Use: Mixed Use-prim Comm & Other, Lot: 162479sf
Merrimack
746 DANIEL WEBSTER HWY. . . . . . . . . . . . . . . . . . . . $4,200,000 B: JCA DW Hwy LLC S: Black Diamond Hldg LLC Mtg: Granite St Econ Devel $1,728,000 Use: Commercial Building, Lot: 141222sf
Bedford
1 WILLOWBROOK CT. . . . . . . . . . . . . . . . . . . . . . . . . . $3,250,000 B: Cheryl J Henry & Shane R Henry S: Burnham W Gaff Jr Tr, Tr for B W Gaff Jr 2015 RET Mtg: Bank of New Hampshire $1,000,000 Use: 4 Bdrm Colonial, Lot: 71874sf
New Castle
183 PORTSMOUTH AVE. . . . . . . . . . . . . . . . . . . . . . . . $3,000,000 B: John L Wells Tr, Tr for John L Wells LT S: Mark F Besanceney Tr, Tr for AARRP RET Use: 2fam-5fam Residence, Lot: 19602sf
Brookline
63 ROUTE 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,615,000 B: All Purpose Storage Brookline South LLC S: Granite State Self Storage LLC Mtg: Barclays Capital RE $7,500,000 Use: Mixed Use-prim Comm & Other, Lot: 100144sf
Portsmouth
49 PLEASANT ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,500,000 B: Goodfellas Properties LLC S: 3 West Prop Mgmt LLC & Dawn Patrol LLC Mtg: Service Credit Union $1,100,000 Use: Mixed Use-prim Comm & Resd, Lot: 2030sf
Hollis
14 MARYS WAY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,476,000 B: John C Masiello & Laura J Masiello S: Milan M Shetti & Susan Shetti Use: Condo
Moultonboro
74 CATLIN ESTATE RD. . . . . . . . . . . . . . . . . . . . . . . . .$2,405,000 B: 74 Catlin Estate Road LLC S: Michael J Cleary Tr, Tr for Moultonborough RT Mtg: RFLF 7 LLC $1,500,000 Use: 3 Bdrm Ranch, Lot: 20038sf
Windham
82 TURTLE ROCK RD. . . . . . . . . . . . . . . . . . . . . . . . . . $2,325,000 B: Jill A Mullan & Glenn P Giacalone S: Marisa Deluca Mtg: Cambridge Svgs Bk $1,743,750 Use: 3 Bdrm Cape Cod, Lot: 60113sf
Amazon Pullback No Loss for NH Warehouses New Environmental Regulations Keep Lid on Industrial Development BY SCOTT VAN VOORHIS SPECIAL TO THE REGISTRY REVIEW
A
mazon’s decision to bail on plans for a giant logistics center in Hudson comes amid a pullback by the ecommerce giant on warehouse construction that has sent tremors through the industrial property sector nationally. But while Amazon’s decision certainly didn’t go unnoticed in New Hampshire’s redhot warehouse sector, neither is it causing too much consternation amid a market where vacancy rates are effectively at zero in the state’s biggest urban centers. And Amazon’s decision may also highlight another factor that promises to keep demand ahead of supply in the Granite State, even as economic uncertainty grows: a combination of local opposition and state red tape that can delay or even derail new warehouse and distribution projects.
Major Projects Face Major Opposition “There is a lack of supply right now,” said Chris Norwood, president of commercial real estate firm NAI Norwood Group, which has developed new warehouse and distribution projects. “There may have been the same demand three years ago, but because there was
Single-Family Median Sales Price
3 3 4 5 5 6 8 8 10 11 11 11 11 11
$450,000 450000
$400,000 400000
REAL ESTATE RECORDS COUNTY
Given its size, Amazon’s plans to build a massive distribution center in Hudson would have surely sparked concern over truck traffic anyway. But plans to pave over 14-acre golf course was a particularly sore point for town residents.
$425,000 425000
INDEX PG
more supply, you didn’t feel it.” The demise of the online shopping giant’s proposal to build a 2.6 million square feet logistics campus on a golf course in Hudson highlights one major barrier to the industry’s growth in the Granite State, and that is local opposition.
NEW HAMPSHIRE MARKET STATISTICS
North Hampton
12 ATLANTIC AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,300,000 B: Eric V Dorman S: Peter J Millett & Karen A Millett
With vacancy rates below 1 percent, real estate developers and investors aren’t batting an eyelash at Amazon’s decision to back down from plans to expand its warehouse footprint by nearly 100 million square feet nation-wide.
TRANSACTIONS THRU
Belknap �������������������������� 06/24/22 Carroll ���������������������������� 06/24/22 Cheshire ������������������������ 06/24/22 Coos �������������������������������� 06/24/22 Grafton ���������������������������� 06/24/22 Hillsborough ������������������ 06/24/22 Merrimack ���������������������� 06/24/22 Rockingham ������������������ 06/24/22 Strafford ������������������������ 06/24/22 Sullivan �������������������������� 06/24/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
$375,000 375000 $350,000 350000 $325,000 325000 $300,000 300000
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May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May May ’21
’22
Number 450000 $450,000 of Sales 400000 $400,000
Year
Median Price
Change Prior Year
350000 $350,000
May 2018
$270,000
4.95%
300000 $300,000
May 2019
$285,000
5.56%
250000 $250,000
May 2020
$310,000
8.77%
May 2021
$375,000
20.97%
May 2022
$435,067
16.02%
200000 $200,000
Continued on Page 12
May
May ’18
May
May ’19
May
May ’20
May
May ’21
May
May ’22
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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