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People and Property: Real Estate and Construction News From Around NH
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New Hampshire MHC Trades for $4M
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A series of sales and acquisitions over the past year have helped South Berwick real estate developers Jim and Rebecca Henry tune their portfolio to new opportunities, as Maine becomes the go-to state for people looking to move from larger metropolitan areas.
The Henrys, owners of real estate development company Remington Street Properties, come from software technology backgrounds in Boston, then became active in real estate investment in Massachusetts, New Hampshire and Maine.
Jim Henry is originally from Maine.
Their focus initially was on the Portland multi-family market. In 2019, they took their first plunge into the office market with the purchase of the Cinamon Building at 1 Pleasant St. in Portland’s Old Port and also expanded geographically, buying 19 mostly multi-family buildings in Augusta.
News in Brief: AutoBuilders wins contract for Mercedes-Benz of Palm Beach; Grace Loves Lace opens first US location in South Florida and more
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Dakota Bear Properties LLC bought 62 West Gray Road in Gray from GRAYRA LLC for $6.6 million.
John Doyon of Malone Commercial Brokers represented the buyer and Lynnfield, Mass., real estate brokerage firm Horvath & Tremblay represented the seller in the transaction, which closed Oct. 22.
Built in 2008, the property comprises a 14,673-square-foot retail store with a drive-through on 2.83 acres. It’s located just off Exit 63 on I-95 at the junction of Route 202 in Gray.
A former Rite Aid, it was acquired by Walgreens Boots Alliance (Nasdaq: WBA) and is now a Walgreens, according to Horvath & Tremblay’s marketing materials.
Horvath & Tremblay marketed it as a passive real estate investment with a triple-net lease requiring zero management responsibilities.