NEWS & RECENT TRANSACTIONS
SUMMIT REALTY PARTNERS SELLS EXCESS PROPERTY FOR DOMINO’S FRANCHISEE – 1.27 +/- ACRES OF DEVELOPMENT LAND FOR $290,000
Summit Realty Partners is pleased to announce the successful sale of 4 Silver Fox Lane, 1.27 +/- acres of shovel-ready development land, in Raymond, NH. The commercial property, located in a prime retail area of Raymond, NH at the intersection of Route 101 and Freetown Road, near a brand-new Starbucks, Domino’s and Verizon sold for $290,000. The excess property was sold on behalf of the seller, a Domino’s franchisee, demonstrating Summit Realty Partners’ expertise in handling excess property transactions.
Summit Realty Partners, Inc. brings 240 Loudon Road in Concord, NH to 100% leased
Concord, NH: July 10, 2024: Summit Realty Partners, Inc. is pleased to announce a recent lease with H&R Block which brings this 17,900 +/- SF modern retail strip center to 100% leased. This property is in the densely populated Concord Heights section of Concord, NH and is shadow anchored by Shaw’s Supermarket and the area’s largest mall (The Steeplegate Mall – 475,000 +/- SF) which is proposed to be redeveloped into a mixed-use property with at least two new major new-to-market retailers. This multi-tenant retail strip center includes LensCrafters, Mattress Firm, U.S. Cellular, H&R Block, Tropical Smoothie Café and a free-standing Starbucks with drive thru. This achievement highlights Summit Realty Partners’ commitment to excellence at a property that Summit has represented since it was developed in 2006.
Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the Landlord in this transaction.
“We are thrilled to reach full occupancy at 240 Loudon Road after Jos A Bank left us with a 4,500 sf vacancy which needed to be demised for two tenants, Tropical Smoothie Café and H&R Block,” said Travis Ginsberg Vice President of Summit Realty Partners. “This milestone demonstrates our team’s unwavering commitment to leasing space and maximizing value for property owners.”
Summit Realty Partners is a leader in shopping center real estate throughout New England, with a portfolio that emphasizes quality, innovation, and client satisfaction.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact us at 781.862.9700 X3 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners, Inc. Leases 20,720 +/- SF to O’Reilly Auto Parts in Manchester, NH
Summit Realty Partners, Inc. is pleased to announce its recent participation in a retail lease agreement for O’Reilly Auto Parts. This new location is now open for business in Manchester, New Hampshire. O’Reilly Auto Parts leased a 20,720 +/- sf space at Manchester Run Shopping Center, a prominent 63,000 +/- plaza located in the heart of New Hampshire’s largest city. It is supported by one of the strongest regional trade areas in the state. Manchester Run Shopping Center hosts a variety of national tenants including Party City, DSW, Guitar Center, Taco Bell, and Chase Bank.
Summit Realty Partners, Inc. Brings Jersey Mike’s Subs to North Conway, NH
North Conway, NH (April 30, 2024) – Summit Realty Partners, Inc. is pleased to announce its recent involvement in a retail lease transaction for a Jersey Mike’s Subs location that is now open for business in northern New Hampshire. Jersey Mike’s Subs leased a 2,283 +/- sf space at Northway Plaza in North Conway, NH, which is a 75,000 +/- sf square foot shopping center located in a prime retail corridor. Jersey Mike’s joins existing businesses including TJ Maxx, Petco and US Cellular. Chris McMahon and Travis Ginsberg of Summit Realty Partners represented the landlord, North Conway Plaza, LLC c/o The Druker Company, Ltd. in this transaction. Pat Gallagher of Atlantic Retail represented the tenant, JM Bedford, LLC d/b/a Jersey Mike’s Subs in this transaction. Jersey Mike’s Subs is a popular American submarine sandwich chain headquartered in New Jersey. The Jersey Mike’s Subs franchise is actively growing, with roughly 2,000 locations open and many more in development across the United States. Summit Realty Partners is now focused on leasing the 34,688 +/- square foot space formerly occupied by the Christmas Tree Shops at Northway Plaza, which provides a premium opportunity for expanding retailers.
Summit Realty Partners, Inc. Announces Multiple New Leases with Tropical Smoothie Cafe & Finalizes its 20th Transaction
Lexington, MA: February 8, 2024: Summit Realty Partners, Inc. is pleased to announce four recent retail lease transactions with Tropical Smoothie Café, which brings the total number of leases that Summit Realty Partners, Inc. has completed with Tropical Smoothie Café to twenty. Travis Ginsberg and Chris McMahon from Summit Realty Partners, Inc. have worked closely with Tropical Smoothie to fulfill their real estate goals throughout New England.
A multi-unit franchisee of Tropical Smoothie Café has signed lease agreements to enter three new retail markets including Keene, NH, Nashua, NH and Haverhill, MA. All three are located in dominant shopping centers with top performing grocery stores. A separate multi-unit franchisee has signed a lease in a CVS anchored center located in Fairhaven, MA. The Fairhaven, MA lease represents a relocation of an existing Tropical Smoothie Café within the Fairhaven retail market.
Tropical Smoothie Café is a fast-casual restaurant that offers fresh smoothies, açai, chia and yogurt bowls, wraps, salads, sandwiches, flatbreads and more in a casual, comfortable setting. To date, Tropical Smoothie Café has over 1,400 cafés across the country, with many more in development.
Real Estate Requirements: Tropical Smoothie Café is seeking additional locations in Massachusetts, New Hampshire, Connecticut and Rhode Island. Size ranging from 1,300 to 2,000 +/- sf with a preference of grocery anchored shopping centers or strip centers with existing fast casual restaurant tenants. Drive-through opportunities are preferred, but not required.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact 781.862.9700 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners, Inc. brokers the sale of 20 Nagog Park in Acton, MA
Lexington, MA: November 29, 2023: Summit Realty Partners, Inc, is pleased to announce the recent sale of 20 Nagog Park in Acton, MA to MAG RE HOLDINGS – ACTON LLC for $1,300,000. The 3,600 +/- square foot freestanding restaurant building at the entrance to Nagog Park was vacant at the time of the sale. This sale follows MAG’s acquisition of the abutting Nagog Mall in late 2022 which Summit Realty Partners also brokered. The new property owner has engaged Summit Realty Partners to market the property for lease in cooperation with Crandall Group. The property owner is looking for a restaurant that is interested in leasing the building to take advantage of the existing restaurant infrastructure and the excellent location at the lighted intersection entrance to Nagog Park seeing approximately 16,000 vehicles per day. Chris McMahon and Travis Ginsberg of Summit Realty Partners represented the Seller, KVA NAGOG LLC and Wendy Crandall Mauriello of Crandall Group represented the Buyer.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact 781.862.9700 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners sells 6,098 +/- SF restaurant building on 3.32 +/- acres in Tilton, NH for $1,400,000
Tilton, NH: July 17, 2023: Summit Realty Partners, Inc. is pleased to announce its involvement in the sale of a 6,098 square foot, 135 seat, full-service restaurant building on 3.32 acres in Tilton, NH. 18 Lowes Drive (Route 3) sold for $1,400,000 on June 1, 2023.
Summit Realty Partners, Inc. was approached by the property owner in January 2023 with a requirement to sell or lease the property after discovering that their current tenant was not planning to renew its lease. Summit implemented a full-scale marketing campaign to widely promote the prominent restaurant property and ended up receiving multiple offers to purchase. The property is located at the entrance to Tilton Center which is anchored by Lowe’s, Kohl’s, Pizza Hut and Aspen Dental. The location is within a major regional retail trade area that benefits from several big box retailers such as Walmart, Market Basket, BJ’s Wholesale, Home Depot and the Tanger Outlets.
The buyer was Tree Line Ventures, LLC who plans to continue to utilize the property as a restaurant. Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the seller in this transaction.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact 781.862.9700 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners sells three commercial buildings in Burlington, MA on 1.16 +/- acres for $2,550,000
Burlington, MA: April 14, 2023: Summit Realty Partners, Inc. is pleased to announce its involvement in the marketing and sale of a 12,395 +/- square foot, three-building commercial property on 1.16 +/- acres at 169-175 Cambridge Street (State Route 3A) in Burlington, MA.
The property sold for $2,550,000 on April 10, 2023. This 1.16 +/- acre property is improved with three mixed-use commercial buildings totaling 12,395 +/- square feet and occupied by a mix of retail, service, and office tenants. Positive attributes of the property include short-term leases, under market rents, strong demographics, and excellent location in a retail node at a lighted intersection with traffic counts in excess of 22,000 vehicles per day.
Summit was approached by the long-time property owner in May 2022 with a requirement to sell the property. Summit engaged and implemented a full-scale marketing campaign to widely market the property and ended up receiving multiple offers. The property was purchased by Aryan Shiva Godwin, LLC, who plans to continue to operate the property as a multi-tenant commercial investment. Relatively short-term leases with multiple tenants on the property should provide the new owner with immediate cash flow but flexibility to add value.
Chris McMahon of Summit Realty Partners Inc. represented the seller in this transaction and Joginder Saini of New Home Realty represented the buyer.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact 781.862.9700 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners, Inc. leases 100,000 SF + retail space at 300 Main Street Marketplace in Nashua, NH
NASHUA, NH: FEBRUARY 14, 2023: Summit Realty Partners Inc. is pleased to announce its involvement in executing leases for over 100,000 sf of retail space at Main Street Marketplace at 300 Main Street in Nashua, NH in the past 12 months.
New tenants include Clear Choice MD (4,386 sf), Nova Trampoline Park (40,726 sf), Omnium Brewing (27,510 sf), Zoo Health Club (28,168 sf), Gong Cha Bubble Tea (2,058 sf) and Root Awakening Kava (1,329 sf). Clear Choice, Gong Cha, and Root Awakening Kava are all open for business. Nova Trampoline Park is finalizing construction and will be open Q1 2023. Summit Realty anticipates that Omnium Brewing and Zoo Health Club will be open summer 2023.
“We are excited to be part of the successful repositioning of this important shopping center asset”, says Travis Ginsberg, Vice President of Summit Realty Partners, Inc. He continues, “Main Street Marketplace has always been in the fabric of Downtown Nashua. We had a unique opportunity to backfill legacy businesses including Salvation Army, NH Liquor & Wine Outlet, Work Out World, Dunkin’ Donuts and Video Thunder with new & exciting experiential retail businesses that will be a draw for customers of all demographics. It’s been a pleasure working hand in hand with the Landlord who was instrumental in executing each of these leases.”
Ownership is currently in the design phase for other improvements to the shopping center including façade modifications and new pylon signage. These planned improvements and the new tenants make this 270,000 +/- square foot shopping center increasingly relevant to the greater Nashua and southern NH community.
Summit Realty initiated a full marketing campaign, identified the prospective tenants and successfully negotiated the business terms of each lease.
Bryan Wright and Christian Janelle of SRS Real Estate Partners represented Omnium Brewing, Marci Alvarado of SVN Parsons Group represented Nova Trampoline Park, Dan Scanlon of Colliers represented Gong Cha Bubble Tea, and NAI Norwood Group / Leaders Real Estate represented Clear Choice MD.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact us at 781.862.9700 X3 / go@sumrp.com. We look forward to hearing from you.
Summit Realty Partners sells 8,346 +/- SF restaurant building on 0.98 +/- acres for $970,000
Gardner, MA: January 23, 2023: Summit Realty Partners, Inc. is pleased to announce its involvement in the sale of a 413 +/- seat, full-service restaurant building in Gardner, MA.
242 West Broadway (State Route 2A) in Gardner, MA sold for $970,000 on January 4, 2023. This 0.98 +/- acre property is improved with an 8,346 +/- square foot full-service restaurant building. Summit Realty Partners was approached by the property and restaurant business owner in August 2022 with a requirement to sell the property. Summit then implemented a full-scale marketing campaign to widely market the property and ended up receiving multiple offers. The property was purchase by a JEBH, LLC which is affiliated with an existing restaurant operator in Gardner. The new owner plans to continue to use the property as a restaurant.
Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the seller in this transaction and Kelly Yakuben of Liberty Real Estate represented the buyer. According to Chris McMahon, Director of Brokerage, “Travis Ginsberg did an excellent job running point on this listing and utilizing his 15+ years of restaurant & hospitality experience to relate to prospective buyers and Kelly Yakuben was a pleasure to co-broke with. We thank Kelly for her persistence in getting the parties to the closing table”.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact 781.862.9700 /go@sumrp.com. We look forward to hearing from you.