Cleveland, OH – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, announces the sale of an Ashley Furniture HomeStore in Nashua, NH for $7.7M. Matthews™ Senior Associate of Net Lease Retail, Chuck Evans, brokered the sale.
The Ashley Furniture HomeStore is located at 168 Daniel Webster Hwy in Nashua, NH. The ±83,500 square foot, retail property was built in 2015 and is close to national retailers including Lowe’s, Sam’s Club, AMC, Costco, and the Pheasant Lane Mall to name a few. The University of Massachusetts is a short drive south just across the New Hampshire, Massachusetts border. Additionally, the property sits off Daniel Webster Hwy which boasts approximately 33,996 vehicles per day.
“We utilized our expansive proprietary database of investors and brokers to locate buyers willing and able to close on the deal,” explained Senior Associate Chuck Evans. “The buyer in the transaction was a local who was familiar with the property and its surrounding area. Furthermore, the buyer was able to accommodate the seller in their 1031 exchange.”
Since its inception in 1945, Ashley HomeStore has become the world’s largest furniture manufacturer in the world. Ashley’s products are sold by more than 6,000 retail partners with over 20,000 storefronts in 123 countries. The seller in the transaction was the tenant, a long-term client of Chucks. They were motivated to sell by a desire to focus on other development projects.
“The deal fell in and out of contract several times with multiple buyers, but we successfully persevered and closed the transaction despite a few bumps in escrow. In the end, the seller was very pleased with the outcome,” said Senior Associate Chuck Evans. “I am very proud of the fact that we were able to close the deal in the face of COVID-19, even though the tenant is not necessarily considered COVID-19 resistant.”
For more information regarding the sale of Ashely Furniture HomeStore in Nashua, NH or if you have any other questions related to net lease retail investments, please do not hesitate to reach out to Senior Associate Chuck Evans. To view current listings, please visit www.matthews.com.
About Matthews REIS™
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales and leasing. Headquartered in El Segundo, CA, and strategically positioned with over 200 agents and 50 support staff in 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.