Sunday, April 5, 2015

HFF closes $46.1 million sale of grocery-anchored shopping center in suburban Manchester, NH


The Shoppes at Bedford Mall, Bedford, NH

James Koury
BOSTON, MA – HFF announced it has closed the $46.1 million sale of The Shoppes at Bedford Mall, a 277,289-square-foot, recently-redeveloped, grocery-anchored retail center in Bedford, a suburb of Manchester, New Hampshire.

               HFF represented the seller, Emmes Asset Management Company LLC, and placed the 10-year, fixed-rate, $30 million loan with Guggenheim Commercial Real Estate Finance, LLC for the buyer.

               Anchored by Kohl’s, The Fresh Market and Marshalls, The Shoppes at Bedford Mall was fully redeveloped and renovated in 2012, which created new retail space that totals more than half of the center’s square footage.


Porter Terry
  The property is 98.6-percent leased to Staples, Weight Watchers, Pet Supplies Plus, Bob’s Store, Starbucks, Chipotle and Outback Steakhouse.  

Situated on 21.38 acres at 73 South River Road in Bedford, the asset is 4.6 miles south of Manchester, the largest city in New Hampshire and its financial capital. 

The Shoppes at Bedford Mall is positioned at the signalized intersection of US Route 3 and State Road 101 and at the entrance of a new freeway interchange for Interstates 93 and 293, providing access to more than 177,000 people who travel these routes daily.    
               The HFF investment sales team representing the seller was led by senior managing director James Koury and real estate analyst Xave Jacoby.
The HFF debt placement team was led by director Porter Terry.

Xave Jacoby
               “The seller did a great job repositioning the center from an enclosed mall into the region’s dominant grocery-anchored power center,” Koury said. 

  “The confluence of several major highways and the region’s attractive demographic profile insures the center’s dominant position for the foreseeable future.”

               Emmes Asset Management Company LLC is a privately-owned real estate investment advisory firm with corporate offices in New York and California.  Learn more at www.emmesco.com

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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