Press Release brought to you by CBRE/New England

CBRE Sells Turnpike Plaza in Nashua, New Hampshire

07/24/2014

FOR IMMEDIATE RELEASE

 

Contact:

Maureen Anastasi

+1 215 561 8937

maureen.anastasi@cbre.com

 

 

 

CBRE SELLS TURNPIKE PLAZA IN NASHUA, NEW HAMPSHIRE

ANGELONE, NATHANSON AND HEALD CLOSE RETAIL INVESTMENT SALE ANCHORED BY NEW HAMPSHIRE’S FIRST WHOLE FOODS MARKET

 

 

Philadelphia, PA – July 24, 2014 –CBRE, Inc. (CBRE) is pleased to announce the sale of Turnpike Plaza located at 253 Amherst Street in Nashua, Hillsborough County, New Hampshire. CBRE represented the seller, Allen Nashua, LLC, a New Hampshire limited liability company. The transaction was led by Christopher Angelone, Executive Vice President CBRE/New England, Brad Nathanson, Executive Vice President CBRE, and Nat Heald, Senior Vice President CBRE/New England. Chop Acquisition, LLC of Massachusetts, acquired the property for $27,000,000 or $204.91 per square foot.

 

Turnpike Plaza is a 131,768 square foot shopping center anchored by Whole Foods Market. As a result of its excellent location and its proximity to several of the region’s most densely populated neighborhoods, Turnpike Plaza has been selected as the home of the first Whole Foods Market in the state of New Hampshire, scheduled to open in summer of 2014. The property is co-anchored by Staples, A.C. Moore and Bob’s Stores with a superior retail location at the confluence of the area’s main retail thoroughfare, Route 101A, and the regional highway, the Everett Turnpike (Route 3), near the Massachusetts border.

 

"Given the center's superior positioning in the market coupled with a new 20-year lease from the top premier specialty grocer in the country, the property had a tremendous demand from the Whole Foods frenzy,” stated CBRE/New England’s Chris Angelone. Brad Nathanson adds, “The addition of Whole Foods attracts best-of-class retailers, which in turn allows an owner to realize much better rental appreciation given the additional foot traffic generated for the remaining tenancy. In the end, we traded the asset to a local 1031 private trust that paid all cash."

 

 

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

 

About CBRE/New England

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

07/24/2014 - 10:45

Source

CBRE/New England

Want more news about CBRE/New England? Click here