The Manchester/I-93/Route 3 Corridor New Construction 2024 Update

By Michael Tamposi | Partner

In 2023, a number of noteworthy projects have either reached completion or are currently in progress. Traditionally, new construction activity in Southern New Hampshire has primarily catered to end-users. However, this past year has witnessed a shift, with several projects being undertaken on-spec, without a committed end-user/tenant. We have also seen a few projects started with a tenant securing a portion of the property, leaving additional space available for lease. These newly developed projects vary significantly in size, ranging from 35,000± SF, to an impressive 1,400,000± SF. Given the historically low vacancy rates for industrial spaces in New Hampshire, it is anticipated that similar construction projects will continue in the future. This trend reflects the changing dynamic in the region’s commercial real estate landscape, with a growing emphasis on new developments to meet the evolving demands of the market.

Notable Projects:

• • HUDSON LOGISTICS CENTER HUDSON, NH
    1.4M± SF Distribution Center for Target
  • 50 ROBERT MILLIGAN PARKWAY MERRIMACK, NH
    324,000± SF Warehouse Distribution on-spec
  • 4 HARRIS POND DRIVE MERRIMACK, NH
    101,000± SF Warehouse on-spec
  • 60 PETTINGILL ROAD LONDONDERRY, NH
    189,500± SF Manufacturing/Warehouse for New Balance
  • 7 CROW’S NEST CIRCLE MERRIMACK, NH
    300,000± SF Warehouse, with 80,000± SF pre-leased
  • 83-85 DOW ROAD BOW, NH
    65,000± SF Warehouse, pre-leased to three tenants
  • 6 INDUSTRIAL DRIVE SALEM, NH
    155,000± SF Warehouse on-spec
  • 161 LOWELL ROAD HUDSON, NH
    505,000± SF Warehouse wit

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