Vermont Business Magazine Hilco Real Estate, LLC has announced that a 125± acre development site in Groveton, NH, is for sale in a Federally Designated Opportunity Zone – a parcel of land ideal for the energy, manufacturing and technology sectors and easily divisible and ready for immediate redevelopment. The site was originally developed by Chapman Development and features the expansion of the nearby machining company NSA Industries in St Johnsbury, Vermont. An asking price was not revealed.
The site features a natural gas transmission system tap – the only tap in New Hampshire with direct rail, truck and pipe access – as well as ownership of all electrical poles and transmission lines.
Since 2014, more than $15 million has been invested by current ownership on land acquisition, site demolition, environmental remediation, renovation to the existing warehouse and buildings, and improvement of the site's utility infrastructure. Current ownership has also worked with various local and state agencies to secure funding for water and sewer, access roads and increase telecom coverage.
In addition to the tax incentives available through the Opportunity Zone program, the site may qualify for additional federal and state incentives, including the New Market Tax Credit Census Tract, the New Hampshire Research and Development Tax Credit, the Coos County Job Creation Tax Credit, the Economic Revitalization Zone and the New Hampshire Job Training Fund. An on-site Co-Gen power facility (not included in the sale) may provide electricity to facilities at below-market rates. The potential for reduced electricity rates, combined with the associated revenue from the transmission and distribution of the electricity through the existing poles and transmission line infrastructure, add further value for the buyer.
The property is the former site of the Wausau Paper Mill. In 2016, NSA Industries, a metal fabrication company out of St Johnsbury, leased (and have since purchased) 73,000 square feet of manufacturing space on the site and were able to immediately fill more than 100 jobs by tapping into the surrounding area's skilled workforce. Current ownership hopes to find the right buyer and end user for the site who will continue to provide great employment opportunities for residents.
This development site is located approximately 1 mile from the N.H./Vermont border, 36 miles from the Canadian border, 2.5 hours to the Portland International Airport & Port, 3 hours to Boston and 3 hours to Montreal, Quebec. The site has direct access to Canada via the Vermont Rail System.
Jeff Azuse, Senior Vice President with Hilco Global, said, "Hilco Real Estate is excited to offer this sprawling development site for sale that holds so much history – a site that holds incredible potential for an energy, manufacturing or technology end user, and great opportunity for the residents of Groveton."
Azuse continued, "The gas tap, power lines and on-site power facility, along with the potential for incentives from federal and state government and the Opportunity Zone program, will provide the right buyer with a ton of value-added potential which few sites in New England can offer."
For more information regarding site viewings, please contact Ryan Rafter at email@example.com or 631.514.9963, or Jake Soyka at firstname.lastname@example.org or 847.504.3224. Interested buyers can submit their bids via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to email@example.com.
For further information on the property, an explanation of the sale process and Terms of Sale, or to obtain access to the Virtual Deal Room containing all property due diligence, please visit HilcoRealEstate.com or call (855) 755-2300.
For more information about this or other properties available for sale, please visit HilcoRealEstate.com.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
NSA’s Announces Expansion to Groveton, NH, (press release October 2016.)
(left to right) Benoit Lamontagne, New Hampshire Division of Economic Development;
October 20, 2016, St. Johnsbury, VT
NSA Industries, LLC, with the help of Chapman Development, is pleased to announce their expansion into Groveton, NH. NSA has signed a long-term lease with Chapman Development to rent 73,000 sq. ft. of space on the site of the former Wausau Paper Mill site located in the village of Groveton, NH.
Bob Chapman, owner of Chapman Development, completed the purchase of the entire mill site in 2014, with the intent of creating a commercial/industrial complex that will draw new and existing business to the North Country. “This is my backyard, and I want to do what I can to bring the jobs and economic activity back to the Region”, said Bob Chapman.
This agreement is anticipated to be the first of many companies to come to North Country and bring new jobs and opportunities to the area. NSA Industries anticipates hiring in excess of 50 people to support its expansion at the former Groveton Mill Site. NSA’s Chief Executive Officer, James Moroney, said “We have many opportunities coming to fruition in the next few months – exciting growth, from both new and existing customers. We were simply running out of space in our current facilities, and we are pleased to have found an excellent partner in the Groveton region to meet our growth needs”. The new commercial/industrial complex will officially be named in an opening ceremony to be held at the beginning of next year.
In addition, Chapman is pleased to announce that a large portion of the property (approx. 85 acres) will be used to create an Industrial Park for companies related to the fields of energy, natural gas, wind and solar production.
For additional information, please contact Bob Chapman at 603-723-9985 or Mike Stirling at 602-524-8312, or Wendy Hilliard at 802-748-5007.
NSA Industries, LLC: www.nsaindustries.com
Founded in 1982 in St. Johnsbury, VT, NSA Industries LLC is the largest machining, metal fabrication, powder coating, and assembly operation in New England. Today, NSA employees over 250 associates and operates out of two state of the art facilities in Lyndonville & St Johnsbury, Vermont totaling 170,000 sq. ft.
Source: NORTHBROOK, Ill., Aug. 1, 2019 /PRNewswire/ -- Hilco Real Estate, LLC