Stonewell Group, LLC purchases retail complex in Dover

Portsmouth, NH – Colliers International, a global leader in commercial real estate services, recently sold three retail buildings situated on two lots of land, totaling 1.3± acres, located at 892-896 Central Avenue in Dover, New Hampshire, to The Stonewell Group, LLC. David Choate of Colliers’ Portsmouth office represented the Seller, Pindrus Properties, and Arthur Pappas of Keller Williams Coastal Realty represented the Buyer, The Stonewell Group, LLC.

The property at 892-896 Central Avenue consists of three buildings set on two parcels of land. The buildings are currently occupied by five tenants, including Subway and Saigon & Tokyo Restaurant, and a sixth tenant leases an “impound yard” area in the rear of the property.

The property was owned by Pindrus Properties for over 50 years and was sold so that the three family members could re-invest in other assets.

Jenny and Jun Ishii of The Stonewell Group were excited for the opportunity to purchase one of the few properties available for sale on Central Avenue in the heart of Dover, NH. In addition to being a key location with long tenured tenants and future development potential, this property on Central Avenue holds a special place and brings back memories for Jenny as Dover is her hometown.

 According to the Strafford County Registry of Deeds the purchase price was $1,350,000.