NAI Norwood Group Completes Sale of Former Chester College for $1.53 MIL
NAI Norwood Group Completes Sale of Former Chester College
Chester NH – NAI Norwood Group is pleased to announce the final sale of the former Chester College of New England. The parcel(s) contained four buildings totaling approximately 50,000sf, containing dining facilities, classrooms, library and dorm room space. The sale closed on August 28, 2015 in the amount of $1,530,000 according to the NH Registry of Deeds.
The buyer was Busch International, Inc. In addition to seeking accreditation from the State of New Hampshire, the school is hoping to make improvements to the campus. The company’s spokesperson, Lei Wang, said, “The campus will be used as a private school and it is planned to open in May 2016.” The private education facility will attract students from across the globe. Approximately 200 students ranging in grades from 7-12 will be living and going to school onsite with yearly rotating enrollment.
Chester College closed its doors in May 2012 as a result of the declining enrollment in a recessed economy. NAI Norwood Group’s Karl Norwood, Chris Norwood, and John Hoben, began marketing the campus in its entirety soon after the doors closed. Two parcels, each with significant buildings, were sold and repositioned quickly, prior to this most recent transaction.. NAI Norwood Group was pleased to have found an educational use for the remainder of the campus.
NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms. Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.
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