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Fri, Sep 17
A Compendium of Property & Capital News
Sep 17
A Compendium of Property & Capital News

The Seyon Group And Berkeley Partners Purchase 100,000 Sf Warehouse In New Hampshire

August 05, 2021
1 Puzzle Lane in Newton, NH

Newton NH — The Seyon Group, in partnership with Berkeley Partners, has acquired 1 Puzzle Lane in Newton, NH. This Class A warehouse is located adjacent to Route 108 on the Massachusetts/New Hampshire border. The property is located 40 miles north of downtown Boston and just 3 miles from I-495, offering efficient access to Manchester, NH, Worcester, MA, and Boston. The Property sits within Boston’s Route 495 Northeast submarket, a 20 million SF submarket which boasted a 2.8% vacancy rate at year-end 2020. Leasing prospects will benefit from New Hampshire’s advantageous tax laws while enjoying immediate proximity to Massachusetts. This transaction closed on July 29th and marked a rare opportunity to acquire a Class A warehouse in a desirable location north of Boston.

Built in 1988, 1 Puzzle Lane is a 102,498 square foot warehouse that is currently vacant. The Property sits on 17.4 acres and the physical specs include 30’ ceiling heights, 8 tailboard loading docks, 1 drive-in door, and 40 parking spaces (with the ability to expand).

“We are thrilled to acquire 1 Puzzle Lane and add another high-quality industrial asset to our growing portfolio,” said Michael Baldwin, Vice President at Seyon. “Boston’s northern submarkets continue to strengthen, and with extremely limited availability in the +/- 100k SF range, we are excited to offer the market the opportunity to lease this highly functional building.”

Charlie Luce and John Meador, of Casco Real Estate Partners, represented the buyer in the transaction. Michael Ciummei and Joe Fabiano of JLL will lead the leasing campaign on behalf of the new ownership.