A joint venture between New York City-based The Praedium Group LLC and Boston-based Essex River Ventures has sold Manor Parkway Business Park, a three-building portfolio of office/flex buildings in Salem, N.H.

The value of the transaction was approximately $8.2 million.

The project is located at 10 Manor Parkway, 12A Manor Parkway and 12B Manor Parkway. The buildings were sold to Portsmouth, N.H.-based investor, the Sarnia Group.

Built from 1981-1983, Salem Parkway consists of three single-story buildings comprising 121,500 square feet. The property was purchased in May 2003. Praedium and Essex River completed significant capital improvements, including roof and HVAC replacements.

At the time of sale, the property was 90 percent occupied, according to Chris Hughes, a principal at Praedium.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
New January Connect speakers added: M. Ryan Gorman, Josh Team, Glenn Kelman and more.SEE THE SPEAKERS×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription