CP Management Celebrates 10 Years of Successful Management of The Sundial Center in Manchester, NH!
CP Management is thrilled to celebrate a decade of property management at The Sundial Center and Residences at Sundial in Manchester, NH. Over the past 10 years, CP has worked tirelessly to transform and elevate this historic property, providing quality services to both commercial and residential tenants. Currently, the Sundial Center is comprised of 263,200 square feet of commercial space across 48 suites, and Residences at Sundial is comprised of 135 residential apartments within 150,000 square feet of space. CP Management’s Manchester office is also located within The Sundial Center.
Originally built in 1911-1917, The Sundial Center has a rich history in the heart of Manchester. This mill building was originally built for William H. McElwain Shoe Company and was known at that time as one of the largest jobbing houses in the United States. It was later used by Foster Grant from 1957 until 1977, Hussey Molding from 1977 -1987, and Firestone from 1986 to 1987. After Firestone left there were serious levels of deferred maintenance, but SMC recognized the property’s unique potential. It is located on 12 acres of land providing ample parking; its’ reinforced concrete construction allows wider column spacing and larger floor loadings and the windows are metal framed grids instead of double hung wood. Accordingly, they decided to move forward with the property and begin renovations.
In 2013, CP was brought on board to manage the property. Between purchase and CP taking over management, updates were made, but the size and scope greatly increased under the control of Senior Property Manager Kate Leonard. Major capital improvements including but not limited to roof replacements, signage/lighting updates, elevator renovations, life safety upgrades, HVAC updates, and a parking lot overhaul were completed in short order. The CP team also oversees the fit up for all new tenants.
Doug Martin from Colliers’ Manchester office leads commercial leasing services at The Sundial Center and works closely with the team from CP Management throughout the process. The building transformation was well marketed by Colliers and has attracted significant tenant interest. Since the beginning of the assignment over 25 leases encompassing 150,000+ square feet of space have been completed.
The major improvements, coupled with strong marketing & leasing partners, and excellent on-site management have yielded impressive results for the Commercial space. Since CP took over management, occupancy rates at the Sundial Center have risen to 97% with rent per square foot increases of 50%+.
The Commercial space renovations were not all that SMC had planned for this site. In 2014 they acquired the South Wing of the center from Hesser College and set out to transform the space into 87 residential apartments. Similar to the commercial space, CP oversaw significant renovations to both the interior and exterior of the building. Common area and façade renovations created a more welcoming residential environment. Units were finished with quartz countertops, stainless steel appliances, eat-in kitchens, custom built cabinetry, wood vinyl plank flooring throughout common areas, hypoallergenic texturized carpets in the bedrooms, and ceramic tile baths. All residential tenants have access to a variety of modern amenities within the building, including a 24-hour fitness center, yoga studio, clubhouse with fireplace and private kitchen, cyber café, as well as game and package rooms.
The 87 units leased up quickly once completed, and their success showed an opportunity to create even more units. What was originally a parking lot acquired during the purchase of the South Wing in 2014 was converted into a 48 unit apartment building in 2018, bringing the total to 135 units.
Led by Property Manager Stafford Johnson-Rodriguez, the Residences at Sundial have remained at 95%+ occupancy since stabilizing after construction.
CP’s experienced team has been instrumental in the success of the Sundial Center and Residences at Sundial. CP would again like to recognize Senior Property Manager Kate Leonard, Property Manager and Director of Resident Experience Stafford Johnson-Rodriguez, as well as Regional Facilities Manager Mark Aubin, and the team of Maintenance Technicians and Assistant Property Managers for their continued dedication in ensuring that both the commercial and residential aspects of the property operate successfully.
CP would also like to thank SMC Management for their continued loyalty, and for the opportunity to manage such a historical and prominent property.
CP Management is a third-property management firm based in Exeter, NH with additional offices in Manchester, NH, Portsmouth, NH, and Providence, RI. Their Portfolio under management includes approximately 4 million square feet of Commercial space and 3,000 housing units, made up of both condominiums and multifamily apartments. To learn more about how CP Management might be able to help you with your property needs, visit http www.cpmanagement.com or email email@example.com.
SMC Management is a real estate investment, development, and asset management firm Headquartered in Watertown, MA. They focus on strategically investing and developing properties to bring more steady cash flow to investors. Visit www.smcmgtco.com or email firstname.lastname@example.org for more information.