Sale of NeWest Mall at 800 Turnpike Road in New Ipswich is pending, but it’s business as usual for the tenants for now, according to Chris Norwood of the Norwood Group, a commercial real estate firm.
Listed for $650,000, the 22,485 square-foot shopping plaza is being sold by Tower Realty Trust, Norwood said, to a new owner, which he declined to identify.
“They are keeping it as an investment with the existing tenants,” he said about the new owners. “The post office is on a long-term lease, as are two other tenants. The other tenants are month-to-month.”
Norwood said he does not know the new owner’s long-term plans for the plaza, which has been listed for sale since the fall.
Brian Case, co-owner of Whitetail Eatery in NeWest Mall, said he’s aware that people have been looking at the property, but he’s not aware of any pending changes.
“We haven’t had any official notice of any sort,” Case said.
Norwood said there’s been a lot of interest in the building in the time it’s been on the market.
“You couldn’t build the building for what it was for sale,” he noted.
The property includes two buildings built in 1985 on 5.05 acres in the rural district, and is listed at $28.91 per square feet. There is a private well and sceptic.
Norwood, whose offices are in Bedford and Portsmouth, said the real estate market in New Ipswich isn’t as busy as Nashua, but is still doing OK.
“Overall, business has been pretty good in the state,” he said.