Monadnock Ledger-Transcript – Vose Farm Business Center sale is finalized
The sale of the Vose Farm Business Center, comprising of the two buildings at 9 and 49 Vose Farm Road in Peterborough, to Premium Capital Resources, LLC was made official last week.
Premium Capital Resources, LLC, a New York-based privately held real estate investment and advisory firm headed by Michael Herman, purchased the property from longtime owners Juniper Advisory Services, LLC, and principals Greg Klemmer and Charles “Chub” Whitten for $10,850,000.
The two buildings that make up the Vose Farm Business Center totals 271,000 square feet. The mix of tenants in the 9 Vose Farm Road building, which began as the headquarters for Brookstone, includes The River Center, Monadnock Family Services, Home Healthcare, Hospice & Community Services, War Room Athletics, Monadnock Gymnastics Center among others. 49 Vose Farm Road, which started as the NEBS building, is home to MAxT Makerspace, Nuttin Ordinary, Cornucopia Project, WG Ellerkamp and more.
Andy Peterson, a CCIM Broker Associate with Four Seasons Sotheby’s International Realty in Peterborough who assisted with the sale, said as of right now, the buildings are just about at 100 percent capacity and it’s been that way for some time.
“I really have to turn people away,” he said. “It’s been an embarrassment of riches over there.”
And he attributes that to the time and energy that Whitten put into the area.
“He’s really worked with the people there to create a great synergy,” Peterson said. “Hats off to the longtime owners.”
Peterson, who will continue to handle the leasing agreements for the Vose Farm Business Center, said he does not expect major changes to happen.
“I would expect a continuation because they like what’s there,” he said. “But they will obviously set their own course.”
He said many of the tenants have been there for years.
“Some of them are very exciting stories,” Peterson said. “A lot of great stuff is going on at Vose Farm. It’s just a great group of companies and organizations.”
Prior to Juniper Advisory Services’ purchase of the property and buildings, Peterson said the area had seen some different companies go through and “it was more or less vacant for a few years.”
But Whitten saw the potential, Peterson said, and worked to revitalize the area into what it is today.
“As Chub would say, breaking it into Peterborough size chunks,” Peterson said. The creation of smaller spaces within the buildings opened it up to smaller companies.
Peterson said the property was not on the market very long and the new owners saw the prospects for the Vose Farm Business Center.
“In my experience, what’s good is good,” he said. “These are people that have many properties around the country, but it’s their first in New Hampshire. Peterborough presents itself well. It’s a nice place to live and also a nice place to start a business and grow a business and that is something they really saw.”
Lauren Judd, executive director of the Cornucopia Project, said Whitten “was really invested and supportive to us as an organization,” calling it an ideal relationship.
After the purchase, Judd said she was contacted by phone by a representative with Premium Capital Resources.
“It was really nice to get a personal call,” Judd said. From that conversation, Judd got the impression that things would continue to operate in a similar manner. “I couldn’t be happier with how the change has gone so far and for us, we get to keep doing what we do.”
Peterson said having a location like the Vose Farm Business Center is crucial to the economy of the town and region.
“Having a property like this and having it run well is important for the area,” he said. “It’s just very, very important.”
And with the collection of companies and groups that make up the two building’s tenants, Peterson said the future of the property is bright.
“It’s a huge benefit to the community,” he said.