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| The Shoppes at Bedford Mall, Bedford, NH |
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| 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.
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| 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.
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| 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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