Spirit Realty buys Exeter commercial building for $9M

A BUILDING IN EXETER located at 659 South County Trail was sold recently by Hannibal SCT Realty LLC to Spirit Realty LP for $9 million. The property remains the headquarters for Carousel Industries Inc., also known as NWN Carousel, which is a cloud computing solutions provider. / COURTESY GOOGLE STREET MAPS

EXETER – A 57,570-square-foot commercial building used as the headquarters for a cloud computing company in Exeter recently sold for $9 million, according to public records documenting the transaction.

The property, located at 659 South County Trail, was sold by Hannibal SCT Realty LLC to Spirit Realty LP, according to the warranty deed, which is a public record of the property sale.

The property remains the headquarters for Carousel Industries Inc., also known as NWN Carousel, which is a cloud computing solutions provider for commercial, enterprise and public sector organizations, including the state of California.

NWN Carousel did not immediately respond to a request for comment on Jan. 24, directing inquiries to a contact form on the company’s website.

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The company’s website states NWN Carousel serves 7,000 organizations as its customers in North America, providing services that include hybrid work setups and managed on-site, cloud or combination IT services.

In addition to its Rhode Island headquarters, the company also maintains offices in California, Louisiana, Maryland, Michigan, New York, North Carolina, Pennsylvania and Texas.

Hannibal SCT Realty has owned the 659 South County Trail building since 2007, and prior to that the property was owned by a company called Carbon Technology.

Hannibal SCT Realty is a limited liability company registered in Rhode Island that is affiliated with the cloud computing business.

Spirit Realty is a real estate firm that’s registered to a principal office in Wilmington, Del., which is affiliated with a Dallas-based real estate investment trust called Spirit Realty Capital, specializing in triple-net lease agreements with a $9 billion portfolio of 2,118 properties scattered across 49 states around the country.

The South County Trail commercial property was most recently valued by Exeter assessors in 2020 as being worth $4.3 million, according to the city’s online property tax evaluation database.

The building was constructed in 1970, according to the database.

The single-story property comes with nearly 7 acres of land, and that includes 40,000 square feet of paved asphalt for parking, the database states.

Marc Larocque is a PBN contributing writer. 

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