NEWS & RECENT TRANSACTIONS
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.
Summit Realty Partners and Aubuchon Realty Company bring new Starbucks and Chipotle to 661 Boston Post Road in Malborough, MA
Marlborough, MA: January 12, 2023: Summit Realty Partners Inc. “SRP” and Aubuchon Realty Company, Inc. “ARC” are pleased to announce that they have finalized two new leases as part of the repositioning of Wayside Crossing Shopping Center at 661 Boston Post Road East in Marlborough, MA.
SRP and ARC recently finalized a lease with Chipotle Mexican Grill where the landlord will develop a freestanding prototype building with a drive-up “chipotlane” for order pick-up. Chipotle who will join a new freestanding Starbucks with drive-thru that is under construction and planning to open soon. Chipotle is set to open mid-2023.
ARC purchased Wayside Crossing Shopping Center in 2021. At the time, the property included a fully occupied 8,800 +/- sf retail strip center with an additional acre of prime development land. Wayside Crossing is shadow anchored by Target and Home Depot and is located on the East side of Marlborough.
SRP initiated a full marketing campaign, identified the prospective tenants, and negotiated deals with Starbucks and Chipotle. During that same period, ARC implemented a refresh of the existing retail strip centers facade and introduced a new and improved pylon sign.
Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the Landlord in both transactions. According to Chris McMahon, Director of Brokerage at Summit Realty “ARC was a pleasure to work with. We appreciate the development team they have assembled, their creative approach to retail real estate development and their ability to make quick decisions.”
Jim Bagley of Atlantic Retail represented Chipotle Mexican Grill and Trevor McNiven of Venture Retail Partners represented Starbucks.
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 NNN leased retail investment property in Concord, NH for $1,625,000
Concord, NH: October 28, 2022: Summit Realty Partners, Inc. is pleased to announce the recent sale of a triple-net investment property leased to a franchisee of Dairy Queen at 196 Loudon Road in Concord NH for $1,625,000. Dairy Queen occupies a 2,612 sf building with a drive-thru on 1.56 acres and has 15 years remaining on its lease with multiple options to renew. Chris McMahon of Summit Realty Partners represented the Seller and Horvath & Tremblay represented the Buyer. 196 Loudon Road is a highly visible retail property located in the densely populated Concord Heights neighborhood. Summit kicked off the redevelopment of this property in 2016 when Dairy Queen first signed a lease and opened for business in 2017. The property benefits from its proximity to many regional shopping centers and strong traffic counts. National brands in the area include Walmart, Target, Home Depot, Dick’s Sporting Goods, Shaw’s Supermarket, Chipotle, Starbucks, Olive Garden, TGIF, Applebee’s and more.
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.
McMahon, Ginsberg, and Schwarz of Summit Realty Partners, Inc. sell Nagog Park Shopping Center in Acton, MA for $9,600,000
Acton, MA: October 21, 2022: Summit Realty Partners, Inc. is pleased to announce the recent sale of three parcels at Nagog Park’s Nagog Mall on Route 2A in Acton, MA for $9,600,000.
The sale included One Nagog Park which is 1.41 acres with two buildings totaling 6,073 +/- sf, Three Nagog Park which is 3.98 acres with a 9,360 +/- sf building and Five Nagog Park which is 6.44 acres with two buildings totaling 38,328 +/- sf for a total of 11.56 acres improved with 53,761 +/- sf of retail space. The sale closed in late August 2022 and represents a selling price of $179 per square foot.
Nagog Mall is the first visible property from Route 2A of Nagog Park, a 750,000 square foot, Class A, B and C office park with ownership that includes Avalon Acton, a 380-unit Class-A apartment complex. Nagog Mall was purchased by the seller in 2004 and Summit Realty Partners began working on the leasing the shopping center in 2016. Summit greatly enjoyed working with the seller over the years at Nagog Mall and is happy to have been able to assist with the sale of the property to the new owner.
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. finalizes 7 new sale and lease transactions for a multi-unit franchisee of Domino’s
Lexington, MA: July 12, 2022: Summit Realty Partners, Inc. is pleased to announce its recent involvement in finalizing five buyer representation sales and two tenant representation leases with an active multi-unit franchisee of Domino’s.
The Domino’s franchisee leased 1,300 +/- sf at “Carriagetown Marketplace” which is a grocery anchored shopping center located at 100 Macy Street in Amesbury, MA and also leased a former 3,500 +/- sf bank with drive-thru located at 45 Danville Road in East Hampstead, NH.
The Domino’s franchisee purchased existing properties for conversion to Domino’s at 33 Main Street in Belchertown MA which was a former bank and 604-610 Main Street in Clinton, MA which was a former restaurant/cafe. Additionally, the Domino’s franchisee purchased land for new ground up development at 143 West Main Street in Hillsboro, NH; 1562 Hooksett Road in Hookset, NH and 4 Silver Fox Drive in Raymond, NH.
Chris McMahon and Travis Ginsberg of Summit Realty Partners represented the tenant/buyer in these transactions. Summit is actively seeking properties for Domino’s in New Hampshire and Massachusetts in the range of 1,200 to 3,000 +/- sf and will consider land, pad sites, endcaps, existing buildings and build to suits. Purchase opportunities and properties with drive-thru potential are preferred
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 brings The Shops at Mall Road in Burlington MA to 100% leased:
Burlington, MA: June 22, 2022 : Summit Realty Partners Inc. is pleased to announce a recent 3,250 square foot retail lease transaction with PetMedic Urgent Vet Care at The Shops at Mall Road in Burlington, MA. The lease brings the 31,623 +/- sf shopping center to 100% leased. PetMedic joins Duluth Trading, Wendy’s, Orangetheory Fitness, ConnectFit and Supercuts at this 31,623 sf highly visible multi-tenant retail center situated in one of Massachusetts most premier suburban regional retail trade areas.
PetMedic is a walk-in urgent care center for pets. They are open after work and on weekends, when traditional veterinary offices are often closed, to provide exceptional and convenient care while treating a variety of conditions.
Chris McMahon, Travis Ginsberg and Danny Schwarz of Summit Realty Partners Inc. represented the Landlord and T3 Advisors represented the tenant in this transaction. The property is owned by CH Retail Fund II/Boston Mall Road, L.L.C. and managed by Winslow Property Management, Inc.
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.
Restore Hyper Wellness and Cryotherapy signs 5 new leases
Lexington, MA: May 19, 2022 : Summit Realty Partners, Inc. is pleased to announce its involvement in five new retail lease transactions for Restore Hyper Wellness & Cryotherapy locations in Massachusetts, New Hampshire and Rhode Island. Chris McMahon and Travis Ginsberg of Summit Realty Partners represented the tenant in these transactions.
These transactions included 2,610 square feet at Market Street in Lynnfield, MA; 2,970 square feet at 28 South River Road in Bedford, NH; 2,400 square feet at Portsmouth Green in Portsmouth, NH; 3,459 square feet at Durgin Square in Portsmouth, NH; and 2,197 square feet at Garden City Center in Cranston, RI. Three of the five leases are in shopping centers that are anchored by Whole Foods. The other two locations are prominent and visible locations in great markets.
Restore Hyper Wellness offers services that include local and whole-body cryotherapy, IV therapy, infrared sauna, hyperbaric oxygen, and much more. Restore Hyper Wellness is seeking additional locations in Massachusetts, New Hampshire, Maine, Rhode Island and Vermont. The average store is 2,000 to 3,500 sf and co-tenants are typically supermarkets, retailers, and other fast casual operators. Please contact Summit Realty Partners, Inc. to submit possible locations.
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 Chris McMahon at 781.862.9700 / cjm@sumrp.com. We look forward to hearing from you.
Summit Realty sells two retail development sites in New Hampshire
Lexington, MA: May 19, 2022 : Summit Realty Partners, Inc. is pleased to announce its involvement in two recent retail development sale transactions in New Hampshire.
1311 & 1313 Hooksett Road sold in Hookset, NH for $1,500,000 on April 26, 2022. This 3.39 +/- acre redevelopment site was purchase by a convenience store and gas station developer and operator. The intended use of the site is a convenience store and gas station. Chris McMahon of Summit Realty Partners Inc. represented the buyer in this transaction.
192-196 Loudon Road in Concord, NH sold for $1,950,000 on April 27, 2022. This 2.36 +/- acre development site was purchased by a car wash developer and operator. The intended use of the site will be for a car wash. Chris McMahon 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 Chris McMahon at 781.862.9700 / cjm@sumrp.com. We look forward to hearing from you.
Summit Realty Partners completes two lease transactions in Seabrook, NH
Seabrook, NH: March 10, 2022 : Summit Realty Partners Inc. is pleased to announce two recent lease transactions in Seabrook, NH’s prime retail area. Jersey Mike’s leased a 1,228 +/- sf space formerly occupied by Sprint at Sea City Crossing Shopping Center located at 652 Lafayette Road. Additionally, Clear Choice MD Urgent Care leased a 3,421 +/- sf freestanding building previously occupied by Pizza Hut at 636 Lafayette Road which is adjacent to Sea City Crossing Shopping Center. Jersey Mike’s is a well-known national brand serving fresh and healthy subs, salads, and wraps. Jersey Mike’s joins Aspen Dental, Visionworks and The Vitamin Shop at Sea City Crossing bringing it to 100% occupancy. Clear Choice MD Urgent Care provides quality and convenient care from Board-Certified Emergency Medicine Physicians. They are open seven days a week.
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 Chris McMahon at 781.862.9700 / cjm@sumrp.com. We look forward to hearing from you.
Summit Realty Partners sells 17,000 SF building on 3.2 acres on Amherst Street in Nashua, NH
Nashua, NH: March 4, 2022 : Summit Realty Partners, Inc. is pleased to announce the sale of 546 Amherst Street (Route 101A) in Nashua, NH for $1,825,000 on March 3, 2022. 546 Amherst Street in Nashua, NH is a highly visible 3.2 +/- acre property improved with a 17,000 +/- SF building and 140 +/- parking spaces. The building was previously occupied as an educational facility but its location in the middle of a growing retail corridor makes it a great property for redevelopment and renovation. The seller, Weston Associates Development Company, Inc sold the property to Buckley-Amherst, LLC. The buyer recently permitted the site for a restaurant use. Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the seller in a widely distributed marketing campaign advertising the property for sale which led to this successful 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 us at 781.862.9700 X3 / go@sumrp.com. We look forward to hearing from you.