Boston, MA, January 29, 2016 --(PR.com
)-- The Vazza Real Estate Group, a commercial real estate services, development and investment firm based in Boston, Massachusetts, has acquired a 50,000 square foot building located at 95A Plaistow Road in Plaistow, New Hampshire. The building’s tenants include Planet Fitness and Car Parts Distribution, Inc. The remaining available square footage is being converted to 1000 units of self storage and will be operated by Storage Locker Plaistow, LLC.
The buildings location is in close proximity to Staples, Kohls, Market Basket and Home Depot. In addition to National Retailers the submarket consists of ample local and regional merchants. The properties location is just over the Massachusetts border and has become a "hotbed" of activity over the past 3 years.
"This is a great reuse of an existing facility," said Derek Holt, managing director of Business Development for The Vazza Real Estate Group. "Storage Locker Plaistow, LLC is going to be one of the only climate controlled self storage facilities in the area.”
"This investment aligns with The Vazza Real Estate Groups’ strategy of acquiring well located assets that are in need of repositioning.” said Stephen Vazza, President of the Vazza Group, Broker Art Bonin went on to say “With the properties location next to Planet Fitness, self storage is a perfect fit.”
“Once the conversion is complete, Storage Locker Plaistow, LLC will accommodate a strong demand in area. The property is well positioned within the Plaistow, NH submarket, which has become a highly desirable location for companies of all sizes due to the recent road improvements to Rt 125 and Plaistow Road,” said Joe Mendola of NAI Hunneman who represented the buyer.
The Vazza Real Estate Group aims to leverage its operating platform and geographic presence by acquiring additional assets and creating value. The Vazza Real Estate Group is based in Boston, Massachusetts and has acquired 4 commercial assets within the last 12 months. They are 55 Sharp Street, Hingham, MA, 244 Vanderbilt Ave in Norwood, MA, and 69 Campenelli Drive in Braintree, MA.
About The Vazza Real Estate Group
The Vazza Real Estate Group is a full service commercial real estate company. The Vazza Real Estate Group has developed in excess of 3500 residential units and over 5 million square feet of commercial, self storage, hotel and retail in Boston, Arizona and Florida. For more information, visit www.vazzareg.com.