Residents demand answers as Chinese company mysteriously buys $16M New Hampshire property for $67M

Nongfu Spring, a Chinese packaged-water supplier, has purchased a building on property near Nashua, New Hampshire. It’s not uncommon for a foreign company to buy land or a building for a new factory or distribution center. What’s raising eyebrows, though, is how much Nongfu Spring reportedly paid: More than four times the assessed value.

Nongfu Spring is China’s largest bottled water company, owned by Zhong Shanshan, the nation’s wealthiest billionaire. In January 2025, its U.S. subsidiary, NF North America, acquired the nearly 340,000-square-foot industrial building on land in Nasua for $67 million. The property had been vacant for more than a decade and was assessed at around $16 million, raising immediate questions about the buyer and the justification for the above-market value.

Nashua: A strategic location

Adding to the concern, Nashua, New Hampshire’s second-largest city, is strategically located near several military and federal installations. The property in question is adjacent to the Pennichuck Water Works system, which supplies drinking water to thousands of residents and hundreds of thousands more downstream. Additionally, it’s close to the city’s airport, defense centers, and a Federal Aviation Administration control center, worsening national security concerns.

Amid the uncertainty, the Nashua purchase has sparked significant public outcry. At a recent Nashua Board of Aldermen meeting, residents packed City Hall to voice their concerns, questioning the motivations behind the sale and its implications for local resources, according to New Hampshire news outlet WMUR. A Change.org petition demanding the removal of Nongfu Spring from the property has garnered widespread support.

Government response

As Nashua residents take a stand, state officials have also expressed alarm. New Hampshire’s current Governor, Kelly Ayotte, who was not in office when the sale happened, noted the need for increased scrutiny, highlighting the above-market sale price and the property’s proximity to critical infrastructure. In response to public pressure, Republican State Senator Regina Birdsell introduced legislation to ban property purchases by entities from countries considered national security threats.

While Nongfu Spring has not publicly disclosed its intentions for the Nashua property, speculation centers around establishing a bottling facility. Such a facility would require access to substantial water resources, potentially from the nearby Pennichuck system. However, the company has not secured a water permit, and local officials have indicated that any such request would undergo rigorous review.