Sale/Lease Opportunity - 32,572 SF Class A Office on 2.75 Acres

Office for Sale
Catylist Listing ID: 30860373
Property Subtypes: Business Park, Governmental, High-Tech, Medical, Net Leased, Office Building
Building Size (RSF): 32,572 SF
Gross Land Area: 2.75 Acres
Sale Price: $8,000,000
Unit Price: $245.61 PSF
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/6/2023

Overview / Comments

Cushman & Wakefield is pleased to offer for sale or lease 80 Commercial Street in Concord, New Hampshire. This meticulously maintained headquarters office building has been occupied in its entirety by Graphic Packaging International (GPI) since 2015. GPI plans to vacate the property when their lease expires on February 28, 2025.

Located in the popular Corporate Center at Horseshoe Pond, 80 Commercial Street is a 32,572 SF three-story office building situated on 2.75 acres overlooking Horseshoe Pond. This five-building office park is home to Concord Hospital's medical offices, Lifestance Health, New England Ecological Services, the Social Security Administration, the Grappone Conference Center and the Courtyard by Marriott Hotel.

The Corporate Center at Horseshoe Pond is a land condominium on approximately 16.46 acres.

Although it is a land condominium, there are no condominium fees and every property owner takes care of the landscaping, snow removal, etc. for their respective properties.

Located just blocks from the State House, unlike many other areas, the office market in Concord has seen brisk leasing activity. With an inventory of 1.3 million square feet of office space, Concord's Class A office market currently boasts a healthy vacancy rate of only 5.4%.

80 Commercial Street has all municipal utilities including natural gas and is fully leased through February 28, 2025. The property is fully air-conditioned with all new HVAC units in 2020. Quality construction, exceptional highway visibility and access make this property a superior opportunity for any investor or owner occupant.

Additional Details

Nearest MSA: Concord
County: Merrimack
Taxing Authority: City of Concord
Tax ID/APN: 100230
Zoning: OCP
Property Located Between: Immediately off 1-93 Exit 15W, located between Commercial St & Delta Drive
Property Visibility: Excellent
Highway Access: Concord is a key transportation hub offering excellent highway access in all directions North/South via I-93, I-393, I-89 and East/West via Routes 4, 9 & 202.
Airports: Concord Municipal & Manchester Boston Regional
Site Description: The Corporate Center at Horseshoe Pond is a land condominium on approximately 16.46 acres. There are five units in total on the site.
Area Description: Located in the popular Corporate Center at Horseshoe Pond, 80 Commercial Street, is a 32,572 SF three-story office building situated on 2.74 acres overlooking Horseshoe Pond. This five-building office park is home to Concord Hospital's medical offices, Lifestance Health, New England Ecological Services, the Social Security Administration, the Grappone Conference Center and the Courtyard by Marriott Hotel.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 10,857 SF
Year Built: 2000
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Constructed in 2000 by Hutter Construction. Structural steel frame metal deck with concrete fill floors and brick veneer/curtain wall on metal stud wall framing exterior facade. Floor to floor height is 13' 6". Aluminum-frame tinted insulated windows with thermal heat panels around the window perimeter on every floor
Parking Ratio: 3.8 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 122
Passenger Elevators: 1
Sprinklers: Wet
Heat Source: Heat Pump
Air Conditioning: Evaporative Cooler, Package Unit
Internet Access: Cable, T1/T3, Fiber Optic
Zoning Description: OCP Opportunity Corridor provides for a wide variety of uses including medical office, education, financial services, municipal and government services and residential.
Part of Planned Development?: Yes
Lot Frontage: 500+ on Commercial St
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Land condo, but no dues or fees

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,621 31,038 44,838
Median Age: 38.27 39.54 39.85
Households: 2,135 12,790 18,389

Contact

Photograph of Listing Agent

Thomas Farrelly

Cushman & Wakefield of NH Inc
NECPE Member
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