Neighbor News
Cushman & Wakefield Chosen As Leasing Agent for Tuscan Village
1.3 million SF of office space to be developed as part of largest mixed-use redevelopment north of Boston
Cushman & Wakefield, a leading global corporate real estate services firm, today announced it was chosen as the exclusive leasing agent for the Offices at Tuscan Village in Salem, New Hampshire. Tuscan Village, New England’s newest premier mixed-use destination totaling 2.8 million square feet, will include 800,000 square feet of retail shops, a health club, two hotels with conference facilities, 800 residential units, an entertainment district and numerous dining options. The 170-acre site will offer 1.3 million square feet of Class A office and medical space. The project is a low risk, “shovel ready” space solution located in a low tax environment that is ideal for fast growing companies looking to expand.
Phase I of Tuscan Village, situated on 50 acres, is complete and consists of luxury townhouses, 256 apartments, a Ford dealership, retail shops and a new Market Basket supermarket. Phase II is currently underway with $45 million in road work, drainage and utility work fully approved and financed, with completion anticipated in May 2019.
Developer Joe Faro of Tuscan Brands stated, “For companies looking for an iconic location and an employee recruiting platform that will enable them to draw from two major labor markets and successfully compete for talent, Tuscan Village is the answer. We are creating a vibrant, amenity rich, lifestyle environment where employees and residents can walk to everything they need.”
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The cross-border marketing effort will attract corporations from New Hampshire, Massachusetts and throughout New England. The Cushman & Wakefield New Hampshire team of Tom Farrelly, Sue Ann Johnson and Denis Dancoes together with Cushman & Wakefield’s Boston office North team lead broker Michael Dalton will be responsible for the office leasing.
“Tuscan Village will be very attractive to Massachusetts companies because of its location just over state lines and its incredible highway access,” said Thomas Farrelly, Executive Director for Cushman & Wakefield and lead broker. “This development will change the face of Southern New Hampshire, as it truly is the first of its kind in the region.”
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“More than 100,000 New Hampshire residents commute to Massachusetts every day,” commented Sue Ann Johnson, Director, Cushman & Wakefield. “These residents would love their companies to relocate to New Hampshire, cutting their commuting time and increasing their take home pay by eliminating the 6.25% Massachusetts income tax.”
Strategically located in tax-free New Hampshire, Tuscan Village’s landmark location is at Exit 1 off I-93 at the convergence of Routes 38 and 28, offering a reverse commute for Massachusetts companies. It is also conveniently located next to The Mall at Rockingham Park, one of New England’s top retail destinations and the largest in the state of New Hampshire.
About Tuscan Brands:
Founded by serial food entrepreneur Joe Faro, Tuscan Brands is the culmination of two generations sharing authentic artisan Italian cooking experiences. As a result of Faro’s upbringing in an Italian immigrant family where cooking was a time-honored tradition, his success creating Italian cuisine and products and his travels all over Italy, Tuscan Kitchen opened in Salem, NH, in 2010 as a destination for diners to eat & drink their way through the Old World’s diverse regional scratch cuisine: rustic breads, handmade scratch pastas, hand-stretched mozzarella, house-cured salumi and a full array of Italian pastries, cookies and homemade gelatos, all set against the backdrop of a masterfully-curated Italian wine selection. Tuscan Market in Salem followed in 2012 as a reimagined Italian marketplace to shop for freshly baked breads, handmade pastas, pastries, and gelato, as well as Italian wines, prepared foods, butchered meats and rare imported Italian specialties. The Salem location also includes “La Scuola Culinaria,” an onsite cooking school. Tuscan Brands expanded to Burlington, MA, in 2014 with the opening of the second Tuscan Kitchen, while a third location was added in March of 2017 in Portsmouth, NH, which now includes an expansive marketplace. Tuscan Seaport’s 14,000 square foot restaurant opened in Boston’s Seaport Square development in November 2017. For more, visit www.tuscanbrands.com
About Cushman & Wakefield:
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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