Matthews facilitated the sale of a retail property at 166 Daniel Webster Hwy. in Nashua, NH, concluding a long-term hold for the seller. The asset, totaling 44,000 square feet of retail space, traded for $8,800,000. First vice president and associate director Daniel Gonzalez and associate Nikolai Novak represented the buyer in the transaction.
The property was originally developed by the seller and had been held for more than 20 years before being brought to market. It was initially listed at $10,000,000 with a local firm and remained on the market for over two years, drawing limited buyer interest during that period.
According to Matthews, the team used proprietary technology and a national database to expand the reach of the offering beyond the immediate local buyer pool. This approach produced three off-market offers for the asset. From those, the agents ultimately sourced a private client based in Massachusetts that was seeking a large-scale retail investment opportunity.
The sale closed at a price 12% below the original $10,000,000 asking level. The discount enabled the long-time owner to exit the investment after an extended marketing period while providing the buyer an entry point described as a competitive basis for long-term ownership of the property.
Novak noted that broadening the marketing effort beyond localized channels was important to generating new interest for a listing that had been stagnant. He added that this wider outreach brought qualified, out-of-state capital to the deal and supported a mutually acceptable outcome for both buyer and seller despite what he characterized as challenging market conditions.
The transaction highlights the role of national investor databases and off-market outreach in repositioning long-listed retail assets. It also illustrates how pricing flexibility relative to initial guidance can be necessary to complete trades for larger retail properties when buyer demand is limited.
