3000 Goffs Falls Manchester, New Hampshire

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1 3000 Goffs Falls Manchester, New Hampshire

2 WHO IS BRADY SULLIVAN Brady 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. IN HOUSE SERVICES 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 We own, manage, service, lease and design our buildings - so you don t have to!

3 TABLE OF CONTENTS EXECUTIVE SUMMARY 3 PROPERTY DESCRIPTION 9 LOCATION & MARKET OVERVIEW 17

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5 Executive Summary

6 3000 Goffs Falls Road Manchester, NH Executive Summary Brady 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 occupied 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. Property Overview Acres 34.2 Buildings 2 Square Feet 210,879 Floors 4 Floor plates 30,000 s.f. approx. ing 857 surface spaces (4.1/1,000 s.f.) 4 EXECUTIVE SUMMARY

7 MANCHESTER MALL OF NEW HAMPSHIRE Everett Turnpike 293 3A 3000 Goffs Falls MANCHESTER BOSTON REGIONAL AIRPORT N 3A EXECUTIVE SUMMARY 5

8 3000 Goffs Falls Road Manchester, NH Highlights Unmatched Transportation Access Natural Campus Setting Limited Large Blocks Available Surrounding Amenities Attractive Basis Improving Market TRANSPORTATION ACCESS The 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 SETTING The Property s unmatched natural features will capture the attention of any user looking 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 AVAILABLE lle rk lm e d Rd 114 Rockland Ave St Josephs Cemetery Donald St Rock Rimmon New St Josephs Cemetery Boynton St Kelley St Milford St Varney St 2nd St S Main St Bedford Mall Manchester Country Club Eddy Rd Wolf Everett Tpke Main St 2nd St 293 W Bridge St Granite St Canal St Queen City Ave Daniel Webster Hwy Pine Grove Cemetery Elm St Calef Rd Salmon St Valley Cemetery Beech St Precourt New St Augustins Cemetery Brown Ave Maple St Bridge St Lake Ave Basquil Sheeham Hayward St Goffs Falls Rd Massabesic St Cilley Rd Derryfield Hanover St St Anthony Derryfield Country Club Weston Rd Elliot Hospital Mall Of New Hampshire S Willow St Huse Rd Stevens Pond Crys Lak Pa Back River Rd Pine Island Pine Island Pond Harvey Rd 3000 Goffs Falls Road only existing building offering +150k s.f. in Hillsborough County Sebbins Pond Everett Tpke Manchester 3A Manchester Airport Grenier Field Rd 28A S Mammoth Rd Hillsborough County tenants looking for over 150k s.f. only have one option, 3000 Goffs Falls Road. Daniel Webster Hwy 3000 Goffs Falls 28 N South River Rd 6 EXECUTIVE SUMMARY

9 SURROUNDING AMENITIES Manchester-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 BASIS The 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 MARKET Vacancy in Hillsborough County is 9.8% and has been steadily decreasing since 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 OPPORTUNITY The 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 CHARACTERISTICS Large side loaded floor plates 4.1 per 1,000 s.f. parking Ample power supply Easily demisable In-place cafeteria and fitness center EXECUTIVE SUMMARY 7

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11 Property Description

12 3000 Goffs Falls Road Manchester, NH Property Description SITE SPECIFICATIONS Year Built: East building: 1977 West building: 1979 Acres: 34.2 Zoning: Utilities: Electric Water & Sewer Gas Telephone I (Industrial) Public Service of New Hampshire City of Manchester EnergyNorth, Inc. AT&T/Bell Atlantic PROPERTY SPECIFICATIONS Square Feet: 210,879 Number 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 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). ing: 857 spaces (4.1 per 1,000 s.f.) 10 EXECUTIVE SUMMARY

13 BUILDING SYSTEMS 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. EXECUTIVE SUMMARY 11

14 3000 Goffs Falls Road Manchester, NH Typical Floor Plan EAST BUILDING 12 EXECUTIVE SUMMARY

15 Typical Floor Plan WEST BUILDING EXECUTIVE SUMMARY 13

16 3000 Goffs Falls Road Manchester, NH Property Site Plan Goffs Falls Rd N 14 EXECUTIVE SUMMARY

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19 Location & Market Overview

20 3000 Goffs Falls Road Manchester, NH Location 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. Market Overview 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 Hampshire 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 % 13.00% 12.00% 11.00% 10.00% 9.00% 8.00% 7.00% Manchester vs. Hillsborough Direct Average Rent $20.00/fs $19.00/fs $18.00/fs $17.00/fs $16.00/fs $15.00/fs Manchester $14.00/fs $13.00/fs Hillsborough $12.00/fs Q Q Q Q Q Q Q Q Q Hillsborough vs. NH Direct Vacancy Hillsborough Vs. NH Direct Vacancy Hillsborough New Hampshire 6.00% Q Q Q Q Q Q Q Q Q 18 EXECUTIVE SUMMARY

21 EXECUTIVE SUMMARY Toll Toll Toll HILLSBOROUGH ROCKINGHAM STRAFFORD ESSEX MIDDLESEX Antrim Contoocook Epping Greenville Henniker Hillsborough Hooksett Raymond Wilton Baldwinville Rowley Jaffrey Newmarket Peterborough Suncook Durham Exeter Milford Ips Pepperell Salisb Topsfield Winchendon Andover Derry Dover Somer Beverly Chelmsford Fitchburg Haverhill Amesbury Danvers Gardner Newbur Wilmington Manchester Nashua Lawrence Lowell Concord 3000 Goffs Falls N

22 3000 Goffs Falls Road Manchester, NH COMPETITIVE SET KEY 1 Bedford Farms 2 8 Commerce Drive 3 Bedford Executive 4 15 Constitution Drive Elm Street Elm Street Elm Street Elm Street Elm Street Elm Street New Boston Rd Wallace Rd Bedford 101 Mast Rd Holbrook Rd Piscataquog River Pinardville Roy St Anselm College Old Bedford Rd Rockland Ave St Josephs Cemetery Donald St fstown Rd New St Josephs Cemetery Rock Rimmon Boynton St Kelley St Milford St Varney St S Main St 2nd St Bedford Mall Manchester Country Club Samuel Blodget 1 Eddy Rd 3 Everett Tpke Main St 2nd St 293 W Bridge St Granite St Canal St Queen City Ave Daniel Webster Hwy Pine Grove Cemetery Daniel Webster Hwy Elm St Calef Rd North St Salmon St Valley Cemetery Beech St Brown Ave Maple St Webster St Bridge St Lake Ave Basquil Sheeham Hayward St Precourt New St Augustins Cemetery Goffs Falls Rd Smyth Derryfield Massabesic St Cilley Rd Hanover St St Anthony ammoth Rd Derryfield Country Club Weston Rd Elliot Hospital Stevens Pond Mall Of New Hampshire S Willow St Huse Rd S Mammoth Rd Wellington Rd E Industrial Dr 101 Youngsville Crystal Lake Crystal Lake Massabesic Lake Long Pond Sebbins Pond Pine Island Pine Island Pond Manchester Airport Rockingha Candia Rd Londonderry Tpke Manchester Rd Back River Rd Everett Tpke Goffs Falls Massabesic 93 Severance 28 N South River 2 Goffs Falls Harvey Rd 28 Alan B Shepard Jr Hwy 20 EXECUTIVE SUMMARY

23 OTHER BRADY SULLIVAN PROPERTIES

24 Charles Panasis Primary Contacts Benjamin Kelley James Tobin Brady Sullivan Properties 670 N. Commercial Street Suite 303 Manchester, NH 03101