NASHUA, N.H. — Atlantic Capital Partners, a division of Boston-based brokerage firm Atlantic Retail, has arranged the sale of an 166,332-square-foot former Sears building at Pheasant Lane Mall in Nashua, located in the southern part of New Hampshire. The building sits on 12.2 acres. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
SALEM, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 233,008-square-foot retail building formerly occupied by Sears in Salem, located in the southeastern part of the Granite State. The building is situated within the 1 million-square-foot Rockingham Park Mall and currently houses a Cinemark Theatres and a Dick’s Sporting Goods, which have backfilled 53 percent of the space. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller in the transaction. Additional terms of sale were not disclosed.
HOOKSETT, N.H. — Boston-based brokerage firm Atlantic Capital Partners has negotiated the $10.7 million sale of a 155,820-square-foot shopping center in Hooksett, a northern suburb of Manchester. A 94,500-square-foot space formerly occupied by Kmart anchors the center, and other tenants include Applebee’s, Dollar Tree and New Hampshire Liquor & Wine Outlet. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller, RK Centers, and procured the buyer, Brady Sullivan Properties, in the transaction.
NEWINGTON, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 127,058-square-foot retail building formerly occupied by Sears in Newington, located in the southeastern part of the Granite State. The building is situated within Fox Run Mall. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
HANOVER, N.H. — Dartmouth College will develop a residence hall for undergraduate students on the north end of the institution’s campus in Hanover. The community will feature 128 apartment-style units with a total of 400 beds. The project is set to include indoor and outdoor common areas, fitness facilities and shuttle service to campus. Further details, including a timeline for construction and potential partnership with a private developer, were not announced.
DOVER, N.H. — An affiliate of locally based investment firm Brady Sullivan Properties has purchased White Cliffs at Dover, a 192-unit apartment complex in southern New Hampshire, for $29.1 million. Built between 1983 and 1985, the garden-style property comprises eight three-story buildings that house 24 units apiece. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller in the transaction. The team also procured Brady Sullivan, which plans to implement a value-add program, as the buyer.
JERSEY CITY, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana Mall in Newark, Del.; The Mall in Columbia in Columbia, Md.; Westfield Annapolis in Annapolis, Md.; Fair Oaks Mall in Fairfax, Va.; Springfield Town Center in Springfield, Va.; Pheasant Lane Mall in Nashua, N.H.; and Dulles Town Centre in Sterling, Va. The assets traded at a blended implied cap rate of 7.28 percent across three all-cash deals. Hilco JCP LLC, an affiliate of Hilco Real Estate LLC and manager of the trust, and an affiliate of Newmark represented the seller in these transactions. “We believe these sales reflect current market conditions and the market’s recognition of the solid performance of JCPenney post-reorganization,” says Neil Aaronson, principal executive officer of the …
PORTSMOUTH, N.H. — JLL has brokered the sale of a 102-room Marriott-breanded hotel in Portsmouth, located in the southern coastal part of the Granite State. The Fairfield Inn Portsmouth Seacoast underwent a renovation in 2015-2016 and offers a business center, fitness center, outdoor pool and a sundry store. Alan Suzuki, Matthew Enright, Emily Zhang and Miranda Guajardo of JLL represented the seller, a joint venture between funds managed by Contrarian Capital Management and Waramaug Hospitality, in the transaction. The buyer was not disclosed.
HUDSON, NASHUA AND MANCHESTER, N.H. — Cushman & Wakefield has brokered the $69 million sale of a portfolio of four southern New Hampshire industrial buildings totaling 593,000 square feet. The properties are specifically located in Hudson, Nashua and Manchester and were 94 percent leased to 18 tenants at the time of sale. Dave Pergola, Brian Doherty, Pete Rogers, Tom Farrelly, Denis Dancoes and Sue Ann Johnson of Cushman & Wakefield represented the seller, Albany Road Real Estate Partners, in the transaction. Tom Sullivan, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Dallas-based Lincoln Property Co.
MANCHESTER, N.H. — An affiliate of Boston-based DSF Group has sold Halstead Manchester, a 640-unit apartment community located in the southern part of The Granite State, for $164.6 million. Originally built between 1981 and 1985, the market-rate property comprises 16 three-story buildings and two single-story amenity buildings on a 41-acre site. According to Apartments.com, Halstead Manchester offers one- and two-bedroom units that range in size from 650 to 1,100 square feet. Biria St. John, Simon Butler and John McLaughlin of CBRE represented DSF Group in the transaction. The buyer was not disclosed.