Despite economic woes, local economy remains strong and vibrant as Brady Sullivan
leases nearly 200,000 square feet of space
Manchester, NH – Despite nationwide job losses, talk of a recession and financial bailouts, the city of Manchester continues to hold strong, retaining and growing local businesses and attracting new dynamic companies. A testament to the city’s vibrancy, Brady Sullivan Properties recently announced several lease transactions that indicate the local economy is stable and holding its own.
Representing nearly 200,000 square feet of space occupancy, Brady Sullivan Properties has leased or renewed leases for the downtown and Millyard space to six businesses, all of which have made significant commitments to grow or stay in Manchester.
“Manchester continues to be an attractive location for business,” said Charles Panasis, director of commercial real estate for Brady Sullivan. “Properties such as the landmark Brady Sullivan Plaza and the historic Jefferson Mill represent some of the most desirable Class A office space available in New Hampshire.”
The recent lease transactions include:
Riverstone Insurance renewed its 126,620 square foot space in the Waumbec Mill for an additional term.
The Department of Veterans Affairs reached a long term deal, which will relocate some of their administrative functions to a 9,271 square foot space at 1750 Elm Street.
Brady Sullivan Tower, 1000 Elm Street
Scottrade signed on to a long term lease the northeast suite on the first floor, occupying 1,305 square feet.
Morgan Stanley consolidated its Nashua and Massachusetts offices to Manchester, leasing the entire 14th floor of the 1000 Elm Street building for 10 years.
CCA Global renewed its lease at the Jefferson Mill, retaining its 29,570 square feet of space.
Bernstein Shur expanded and renewed its lease, picking up an additional 3,724 square feet. The company now occupies 11,315 square feet in the prominent Mill building.
Along with the brokers, real estate agents, developers and others involved in contributing to Manchester’s economy, the Manchester Economic Development Office works to retain and grow current businesses, while attracting new companies to the city.
“Even in an unsettling economic time, Manchester’s proposition – an affordable tax climate, attractive space options, from the Millyard to Industrial Parks, excellent highway and airport access and a supportive business climate – is persuasive,” said Jay Minkarah, director of economic development for the city. “We continue to receive interest from businesses looking to relocate or grow here at the same we’re helping our local businesses expand and thrive.”
For more information about current economic development projects and trends, contact Jay Minkarah at the Manchester Economic Development Office