A Boston-based real estate developer plans to convert a warehouse in Plaistow, N.H., to self-storage. It will be the first climate-controlled storage facility in the city, according to a press release from NAI Norwood Group, the real estate brokerage that represented the buyer in the transaction.
The developer purchased the property on New Hampshire Route 125 near the border of Haverhill, Mass., for $2.8 million. The 48,000-square-foot warehouse includes high bays. Once converted, it will encompass 47,000 square feet of rentable storage space, according to the press release. The facility is scheduled to open in July.
The seller, Scott Building Twenty LLC, was represented by AR Bonin Cos. LLC. The buyer was represented by Joseph Mendola, senior vice president of Bedford, N.H.-based NAI Norwood and an affiliate of the Argus Self Storage Sales Network.
NAI Norwood is an affiliate of NAI Global, a managed network of independently owned commercial real estate brokerage firms. The company assists corporations with negotiating leases, sales, business brokerage, investments, relocation, site selection and development.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.