Colliers Brokers $7.5 Million Sale of Former Farnum Center Rehab Facility to RIO Holdings NH in Manchester

Colliers has announced the $7.5 million sale of 140 Queen City Avenue in Manchester, New Hampshire, a 26,375-square-foot former inpatient rehabilitation facility situated on 3.5 acres, according to the Hillsborough County Registry of Deeds. The buyer, RIO Holdings NH, LLC, intends to establish a recovery center at the property, which previously operated as the licensed 70-bed Farnum Center before ceasing inpatient operations in the summer of 2025.

Deal Structure and Representation

Bob Rohrer, Managing Director, and Dan Scanlon, Senior Associate, with Colliers in New Hampshire, along with Alex Cohn of the Colliers Indianapolis office, represented the buyer, RIO Holdings NH, LLC, in the transaction. The seller, Manchester Alcoholism Rehabilitation Center, an Easter Seals affiliated entity, was represented by Bill Norton of Norton Asset Management and Mike Harrington of Harrington & Co.

The transaction closed following a competitive bidding process. Rohrer noted that his team had initially identified the opportunity when the Farnum Center announced plans to close, and worked with RIO Holdings and Easter Seals to pursue a deal as early as late 2025, before the seller ultimately brought the property to market.

"When we were introduced to the principals of RIO, Dan and I recalled that the Farnum Center had recently announced plans to close," Rohrer said. "The RIO team quickly recognized the opportunity to bring its model of recovery care to an established facility in Manchester. We initially worked with RIO and Easter Seals to try to put a transaction together in late 2025, before Easter Seals ultimately decided to bring the property to market. Credit goes to our client for staying focused and committed throughout the process. Their determination, combined with a strong offer, ultimately positioned them to prevail in what became a competitive bidding process."

Property Profile and Asset History

The property at 140 Queen City Avenue carries a layered history that underscores its value-add trajectory. The site was originally constructed in 1954 as the Queen City Inn, a 52-unit motel that operated for nearly six decades. Around 2012, the property underwent an EPA-documented brownfield cleanup and redevelopment led by Anagnost Investments, with a total redevelopment investment of approximately $4.8 million to convert the former motel into the Farnum Center Recovery Treatment Center. Public records show the property traded in 2012 at $1.625 million during that conversion — compared to the $7.5 million price in the current transaction.

The one-story building sits on 3.51 acres in Manchester's Bakersville neighborhood and is zoned B-2 Business District, permitting commercial and health-care uses. The facility was purpose-built for drug and alcohol rehabilitation and mental health treatment, and the sale included fixtures, furniture, and equipment. The property features approximately 40 surface parking spaces, outdoor recreation space with a pool, and wheelchair-accessible clinical infrastructure. Its state license for a 70-bed inpatient facility expired in April 2026, following the cessation of inpatient operations the prior summer.

At the $7.5 million sale price, the transaction implies approximately $284 per square foot based on the 26,375-square-foot building size cited by Colliers, and roughly $107,143 per licensed bed.

Location and Health-Care Corridor Context

The property's location along Queen City Avenue provides convenient access to downtown Manchester and Interstate 293. The site sits adjacent to Elliot Hospital, one of the city's primary acute-care providers, and within close proximity to Catholic Medical Center, positioning 140 Queen City Avenue within an established health-care corridor in New Hampshire's largest city.

The property's previous use and existing infrastructure made it particularly well suited to RIO Holdings NH's plans to establish a recovery center in Manchester. Demand for behavioral health services has grown significantly in recent years, drawing increased investment interest into provider practices and health-care real estate.

About the Parties

Colliers is a global commercial real estate services firm. Bob Rohrer serves as Managing Director of Colliers' New Hampshire offices, where he focuses on investment opportunities, development and redevelopment projects, and industrial and office assignments. Dan Scanlon, a Senior Associate, holds the CCIM designation and specializes in tenant and buyer representation as well as investment properties along the Interstate 93 and Route 101 corridors in southern New Hampshire.

Norton Asset Management, represented by Bill Norton, and Harrington & Co., represented by Mike Harrington, acted as co-brokers on behalf of the seller, Manchester Alcoholism Rehabilitation Center.

Sources

Colliers – $7.5 Million Sale of 140 Queen City Avenue in Manchester, NH (Aug. 28, 2026)