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3000 Goffs FallsManchester, New Hampshire

WHO IS BRADY SULLIVANBrady Sullivan Properties is a thriving real estate development corporation that was established in Manchester, New Hampshire in 1992 with real estate Brokers licensed in New Hampshire, Massachusetts, Maine, Florida, Rhode Island and Vermont. Brady Sullivan holds a sizable share of both the commercial and residential real estate markets in New England, as well as owning and managing a diverse portfolio of over four million square feet of mill, office and industrial space.

Brady Sullivan offers the following in house services:• Turn key construction• Custom design and architectural department• In-house brokerage• In-house management with technicians concentrating in electrical, HVAC and general maintenance• In-house legal department

IN HOUSE SERVICES

We own, manage, service, lease and design our buildings - so you don’t have to!

TABLE OF CONTENTSEXECUTIVE SUMMARY 3

PROPERTY DESCRIPTION 9

LOCATION & MARKET OVERVIEW 17

Executive Summary

3000 Goffs Falls RoadManchester, NH

Property Overview Acres 34.2Buildings 2Square Feet 210,879Floors 4Floor plates 30,000 s.f. approx.Parking 857 surface spaces (4.1/1,000 s.f.)

Executive SummaryBrady Sullivan Properties is pleased to offer for lease 3000 Goffs Falls Road in Manchester, NH (the “Property”), a 210,000 s.f. office building previously occu-pied by Anthem Blue Cross Blue Shield (“BCBS”).

The Property is comprised of two, four story, inter-connected office buildings with 30,000 s.f. floor plates, a fitness center, and cafeteria. The buildings overlook Pine Island Pond providing a true natural campus setting, ideal for a corporate headquarters location.

Manchester-Boston Regional Airport is less than one mile from the Property and highway access to points north, south, east and west is easily available via I-293 (exit 2) and the F.E. Everett Turnpike (exit 13). The Property is a unique opportunity for either an investor or user allowing both parties to create a new vision and identity for the asset.

4 | EXECUTIVE SUMMARY

Everett Turnpike

93

293

293

3A

3A

MALL OF NEW HAMPSHIRE

MANCHESTER

MANCHESTER BOSTON

REGIONAL AIRPORT

3000 Goffs Falls

28

28

N

EXECUTIVE SUMMARY | 5


3000 Goffs Falls Road – only existing building offering +150k s.f. in Hillsborough County

Highlights• Unmatched Transportation Access• Natural Campus Setting• Limited Large Blocks Available• Surrounding Amenities• Attractive Basis• Improving Market

SebbinsPond

LongPond

CrystalLake

Pine IslandPond

MassabesicLake

DerryfieldPark

St AnthonyPark

BasquilSheehamPark

Crystal LakePark

Wolf Park

SamuelBlodget

Park

Roy Park

PrecourtPark

YoungsvillePark

StevensPondPark

Pine IslandPark

St AnselmCollege

ManchesterAirport

DerryfieldCountry Club

ManchesterCountry Club

ElliotHospital

St JosephsCemetery

ValleyCemetery

New St JosephsCemetery

New St AugustinsCemetery

Pine GroveCemetery

BedfordMall

Mall OfNew Hampshire

Piscataquog River

Varney St

Queen City Ave

Rockingham Rd

Bridge St

Londonderry Tpke

Elm St

S Willow St

Mast Rd

Dani

el W

ebst

er H

wy

Mai

n St

Salmon St

2nd

St

Edd y Rd

Holbrook Rd

Milford St 2nd

St

Granite St

Rockland Ave

Weston Rd

Donald St

Massabesic St

Grenier Field Rd

Kelley St

W Bridge St

S M

ain S

t

E In

dust

rial P

ark

Dr

Old Bedford Rd

Cale

f Rd

Canal St

Goffs Falls R

d

Cilley Rd

Hayward St

Boynton

St

Goffstown Rd

Lake Ave

Wellington Rd

Harvey RdHuse Rd

New Boston Rd

Back River Rd

Brow

n Av

eBe

ech

St

Map

le S

t

Cand

ia Rd

S M

amm

oth

Rd

Hanover St

Wallace Rd

South River Rd

Daniel Webster Hwy

Mam

moth Rd

Everett TpkeEverett Tp ke

Alan B Shepard Jr Hwy

28

3

114

114

101

3A

28A

101

101

28

28

3

3

293

293

93

93

Massabesic

North Londonderry

Pinardville

Bedford

Manchester

Rock Rimmon

Park

TRANSPORTATION ACCESSThe Property provides unmatched proximity to Manchester-Boston Regional Airport and is minutes from the major regional highways, I-293, I-93, and the F.E. Everett Turnpike, serving areas to the north, south, east, and west.

NATURAL CAMPUS SETTINGThe Property’s unmatched natural features will capture the attention of any user look-ing for a campus in Southern New Hampshire. The building’s grounds are surrounded by mature growth forests, walking trails, and water views overlooking Pine Island Pond providing a truly stunning backdrop.

LIMITED LARGE BLOCKS AVAILABLEHillsborough County tenants looking for over 150k s.f. only have one option, 3000 Goffs Falls Road. 3000 Goffs Falls


N

SURROUNDING AMENITIESManchester-Boston Regional Airport and the confluence of I-93, I-293, and the Everett Turnpike supports a rich amenity base in the area including dining, lodging and retail. Only a mile from the Property entrance is Rt-28, which is a heavily traveled thoroughfare with major retailers and restaurants including LL Bean, Walmart, Longhorn Steakhouse, Barnes & Noble, TGI Fridays, Sports Authority, Starbucks, Dunkin Donuts, Sam’s Club, Five Guys Burgers, Chipotle and The Mall of New Hampshire, which hosts additional major retailers including JC Penny, Best Buy, Sears, and many others.

ATTRACTIVE BASISThe investment provides an opportunity to purchase a suburban campus at a price significantly below replacement cost. With estimated replacement cost at approximately $250 p.s.f., the Property will provide substantial value and upside potential for investors.

IMPROVING MARKETVacancy in Hillsborough County is 9.8% and has been steadily decreasing since 2011. Manchester has been a large beneficiary of the tightening market with average rent growth exceeding 4.7% over the past year, surpassing the average for Hillsborough County.

REPOSITIONING OPPORTUNITYThe Property provides excellent infrastructure and physical characteristics for an investor or user to reposition or repurpose the Property. BCBS’s long-term occupancy has kept the Property off the market for over +20 years, making 3000 Goffs Falls Road a prime candidate to once again be a market leading asset under new stewardship.

STRONG CHARACTERISTICSLarge side loaded floor plates

4.1 per 1,000 s.f. parkingAmple power supply

Easily demisableIn-place cafeteria and fitness center


Property Description


Year Built: East building: 1977West building: 1979

Acres: 34.2

Zoning: I (Industrial)

Utilities:ElectricWater & SewerGasTelephone

Public Service of New HampshireCity of ManchesterEnergyNorth, Inc. AT&T/Bell Atlantic

Square Feet: 210,879Number of Floors: four (4)Typical Floor Plate: 30,000 s.f. approx. Foundation/Structure: Concrete slab with steel column/girder system on reinforced concrete

footings. Column Spacing: 24' x 24' Roof: Sloped slate roofs with interior flat roofs built up with a rock-ballasted

Carlisle SynTec 0.045 inch thick EPDM elastomeric surface.Façade: Brick veneer with thermal pane glass windows and doors.Ceiling Heights: Finished: 9’-0”

Slab to slab: 12’-0”Elevators: West building: two (2) Westinghouse hydraulic elevators that serve all

levels of the building and one Dover hydraulic unit that serves the ground and 1st floor levels. The Westinghouse elevators are rated at 3,500 and 6,000 lbs and the Dover unit is rated at 3,000 lbs. East building: three (3) 3,500 lb rated Westinghouse elevators serving all levels.

Loading Docks: East building: one dock door.West building: large overhead door (basement level).

Parking: 857 spaces (4.1 per 1,000 s.f.)

Property DescriptionSITE SPECIFICATIONS

PROPERTY SPECIFICATIONS


Electrical System: East building: 2,500 amp , 3-phase, 480V/270V service.West building: two (2) 3,000 amp, 3-phase, 480V/277V services.

Back Up Systems: East building: 60kw generator for life safety.West building: 45kw generator for life safety and a 1,000 hp, 700kw emergency generator and a 225kVa UPS system.

HVAC System: Each building is heated by nine (9) modular Hydrotherm gas-fired boilers which serve forced hot water systems. Heat in the west building is distributed by hot water coils in two (2) large rooftop-mounted Buffalo Forge air handling units, reheat coils in fan-coil units and perimeter fintube. Heat in the east building is distributed through coils in four (4) Trane air handlers in the main mechanical room, one Trane air handler in a 2nd floor mechanical room, several fan-coil units and perimeter fintube.

Cooling for the buildings is provided by two (2) 175-ton R-113 and one 250-ton R-11 Trane Centravac chillers and a 1,656,000 BTU plate and frame heat exchanger. A roof mounted Balitmore Air Coil two-cell, crossflow-induced draft cooling tower is located on the west building. Five (5) Liebert direct-expansion cooling units serve the computer suite with rooftop-mounted condensing units.

HVAC is monitored by a Landis & Gyr Insight system.

Fire/Life Safety: The buildings are fully sprinklered and alarmed. A 25-hp Patterson fire pump serves the west building and a 30-hp Allis Chalmers fire pump serves the east. The building has fire pull boxes throughout and there are also fire department hose connections on all floors in the stairwells.

The east is served by a Symplex 4208 alarm monitoring and fire suppresion control system. The west is served by a Pyrotronics System 3 Universal alarm control system.

BUILDING SYSTEMS



Typical Floor PlanEAST BUILDING


Typical Floor PlanWEST BUILDING



Property Site Plan

Goff

s Fal

ls Rd


N

Location & Market Overview


$12.00/fs

$13.00/fs

$14.00/fs

$15.00/fs

$16.00/fs

$17.00/fs

$18.00/fs

$19.00/fs

$20.00/fs

2005 1Q 2006 1Q 2007 1Q 2008 1Q 2009 1Q 2010 1Q 2011 1Q 2012 1Q 2013 1Q

Manchster Vs. Hillsborough Direct Average Rent

Manchester

Hillsborough

6.00%

7.00%

8.00%

9.00%

10.00%

11.00%

12.00%

13.00%

14.00%

2005 1Q 2006 1Q 2007 1Q 2008 1Q 2009 1Q 2010 1Q 2011 1Q 2012 1Q 2013 1Q

Hillsborough Vs. NH Direct Vacancy

Hillsborough

New Hampshire

Location

Market Overview

3000 Goffs Falls Road is located just off Route 3A in Manchester, NH. The Property is less than a mile to I-293 and less than three miles to the F.E. Everett Turnpike, critical highways connecting the Property to all points. The Property’s close proximity to the Manchester-Boston Regional Airport and Route 28, a heavily retailed thoroughfare, provide a rich amenity base for tenants in addition to the natural setting on Pine Island Pond and the adjacent Pine Island Park.

Manchester, NH is located in Hillsborough County and is the most populous city in the state of New Hampshire. Home to firms like Citizens Bank, Velcro USA, TIG Specialty Insurance, and Freudenberg North America, Manchester, NH benefits from being one of the most business friendly cities in the United States. In 2009 the city was ranked the second most tax friendly city in the United States by Forbes and was also ranked the seventh best city for upward income mobility by the Equal Opportunity Project. Low business costs, no sales tax, income tax or capital gains taxes make New Hampshire attractive to employees and employers alike. High tech entrepreneurs are particularly drawn to the area and high tech manufacturing is at the heart of the local economic fabric.

The Smart Manufacturing/High Technology (SMHT) sector is the largest part of the New Hampshire economy. The state’s 2,100 manufacturing companies and 1,600 high technology companies drive the regional economy as a result of New Hampshire’s low personal tax burden and top quality labor force. Overall, SMHT employs one in six of New Hampshire’s private sector workers and accounts for 23% of the state’s total business tax revenue. SMHT also has enormous indirect economic benefits for the Granite State. Economic impact models suggest that every 100 new manufacturing jobs in New Hamp-shire will create as many as 138 additional jobs in the state and generate $1.2 million in state and local tax revenue.

INCREASING MARKET MOMENTUM FUELED BY IMPROVED ACCESSIBILITY

Since the completion of several infrastructure projects in 2006 (including the Route 3 widening project from Burlington, MA to Nashua, NH), access and traffic congestion has significantly improved. These infrastructure projects, in addition to New Hampshire’s growing technology sector, have led to a decrease in vacancy and increase in rents over the past 8 years. In terms of vacancy, at 9.8% Hillsborough County has kept an even pace with the state, while the city of Manchester has been a large beneficiary, with average rent growth exceeding 4.7% over the past year, surpassing the average for Hillsborough County.

Manchester vs. Hillsborough Direct Average Rent

Hillsborough vs. NH Direct Vacancy

$12.00/fs

$13.00/fs

$14.00/fs

$15.00/fs

$16.00/fs

$17.00/fs

$18.00/fs

$19.00/fs

$20.00/fs

2005 1Q 2006 1Q 2007 1Q 2008 1Q 2009 1Q 2010 1Q 2011 1Q 2012 1Q 2013 1Q

Manchster Vs. Hillsborough Direct Average Rent

Manchester

Hillsborough

6.00%

7.00%

8.00%

9.00%

10.00%

11.00%

12.00%

13.00%

14.00%

2005 1Q 2006 1Q 2007 1Q 2008 1Q 2009 1Q 2010 1Q 2011 1Q 2012 1Q 2013 1Q

Hillsborough Vs. NH Direct Vacancy

Hillsborough

New Hampshire



3

3

Toll

Toll

Toll

495

93

293

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9395

95

93

Merrimack R.

H I L L S B O R O U G H

M E R R I M A C K

R O C K I N G H A M

S T R A F F O R D

E S S E XM I D D L E S E X

W O R C E S T E R

Antrim

Contoocook

Epping

Greenville

Henniker

HillsboroughHooksett

Pittsfield

Raymond

Wilton

Baldwinville

Rowley

Shirley

Jaffrey

Newmarket

Peterborough

SuncookDurham

Exeter

Hampton

Milford

Ayer

IpswichPepperell

Salisbury

Topsfield

Winchendon

Andover

Pinehurst

Derry

Dover

Rochester

Somersworth

Beverly

ChelmsfordFitchburg

Haverhill

Leominster Salem

Amesbury

Burlington

DanversGardner

Newburyport

Wilmington

Manchester

Nashua

Lawrence

Lowell

Concord

3000 Goffs Falls

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COMPETITIVE SET

Rock Rimmon

Park

DorrisPond

SebbinsPond

LongPond

CrystalLake

Pine IslandPond

MassabesicLake

StarkPark Livingston

Park

DerryfieldPark

St AnthonyPark

BasquilSheehamPark

Crystal LakePark

SamuelBlodgetPark

Roy Park

Black BrookPark

PrecourtPark

YoungsvillePark

StevensPond Park

Pine IslandPark

St AnselmCollege

M a n c h e s t e rA i r p o r t

DerryfieldCountry Club

ManchesterCountry Club

IntervaleCountry Club

ElliotHospital

St JosephsCemetery

ValleyCemetery

New St JosephsCemetery

New St AugustinsCemetery

Pine GroveCemetery

BedfordMall

Mall OfNew Hampshire

Piscataquog River

2nd

St

Varney St

Queen City Ave

Rockingham Rd

Bridge St

Londonderry Tpke

Elm St

S Willow St

Mast Rd

Londonderry Tpke

Hook

sett R

d

Dani

el W

ebst

er H

wy

Dani

el W

ebst

er H

wy

Smyth

Rd

Mai

n St

North St

Salmon St

Edd y Rd

Holbrook Rd

Milford St 2nd

St

Granite St

River Rd

Elm St

Webster St

Rockland Ave

Weston Rd

Donald St

Massabesic St

Grenier Field Rd

Kelley St

W Bridge St

S M

ain S

t

E In

dust

rial P

ark

Dr

Old Bedford Rd

Manchester Rd

Cale

f Rd

Canal St

Goffs Falls R

d

Cilley Rd

Hayward St

Boynton

St

Goffstown RdSm

yth Rd

Lake Ave

Wellington Rd

Harvey RdHuse Rd

Unio

n St

New Boston Rd

Hooksett Rd

Back River Rd

Dunbarton Rd

Brow

n Av

e

Goffstown Back Rd

Beec

h St

Map

le S

t

Front St

Cand

ia Rd

S M

amm

oth

Rd

Hanover St

Wallace Rd

South River Rd

Daniel Webster Hwy

Mam

moth Rd

Everett Tpke

Everett Tp ke

Ever

ett T

pke

Alan B Shepard Jr Hwy

121

28

3

114

28

114

101

3

28

28

101

101

28

28

3

3

293

293

93

93

South Hooksett

Severance

GoffsFalls

Massabesic

North Londonderry

Pinardville

Bedford

14

2

10

3

98

765

3000 Goffs Falls

KEY1 Bedford Farms2 8 Commerce Drive3 Bedford Executive Park4 15 Constitution Drive5 650 Elm Street6 900 Elm Street7 1000 Elm Street8 1155 Elm Street9 1228 - 1230 Elm Street10 1750 Elm Street

N


OTHER BRADY SULLIVAN PROPERTIES

Brady Sullivan Properties670 N. Commercial Street

Suite 303Manchester, NH 03101

Primary ContactsCharles Panasis603-799-6926

[email protected]

Benjamin Kelley603-231-1240

[email protected]

James Tobin603-315-4668

[email protected]

3000 goffs falls - loopnetimages2.loopnet.com/d2/sm_j-y2dcqwh0ek0hpnc9rrp8... · • custom design...

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