NEWS & RECENT TRANSACTIONS
Summit Realty Partners leases a total of 5,000 +/- SF to two national tenants in Keene, NH
Keene, New Hampshire, May 8, 2017- Summit Realty Partners, Inc. is pleased to announce the completion of new lease transactions with Kay Jewelers and Yankee Candle at Monadnock Marketplace in Keene, NH. A new lease was executed with Kay Jewelers for a 3,000 +/- sf location and with Yankee Candle for a 2,000 +/- sf location. Both are expected to open in late 2017/early 2018. Chris McMahon represented the Landlord, KEENE MZL LLC in the transaction.
Monadnock Marketplace is a 504,873 +/- square foot grocery anchored power center located in a densely populated area. Monadnock Marketplace is anchored by Price Chopper Supermarket, Home Depot, Target, and Dick’s Sporting Goods. These businesses drive significant traffic volume to this property each day. Monadnock Marketplace is also located at the major intersection of Ash Brook Road and Routes 9,10, and 12 in the heart of the regions primary retail market.
There is currently 1,500 +/- sf to 9,900 +/- sf available for lease at the shopping center including up to 5,416 +/- sf at the new small shop retail building at the entrance to the center. This small shop building (1,500 to 5,416 +/- sf) includes outdoor patio seating for prospective restaurant tenants. The new lease transactions with Kay Jewelers and Yankee Candle, along with the strong retail composition Monadnock Marketplace contributes to the overall desirability of Monadnock Marketplace shopping center which boasts a wide variety of national, regional and local tenants.
Summit Realty Partners sells 25,000 +/- SF retail center for $2,600,000 on Cape Cod
Dennisport, MA; March 29, 2017: Summit Realty Partners is pleased to announce two recent sales at Dennisport Village located at 673 Main Street in Dennisport, MA for a combined total of $2,600,000.
Dennisport Village is an 25,000 +/- square foot mixed-use condominium with 11 retail establishments, 3 office spaces, and 1 residential unit located along busy Route 28 in the heart of downtown Dennisport, MA. The first sale, at a price of $650,000, was for the 5,600 square foot unit occupied by the Red Nun Bar & Grill, a well-known restaurant establishment. The second sale, at a price of $1,965,000, was for the remaining 19,300 square feet comprised of 14 units. The larger sale represents an investment at a 9.3% cap rate.
This downtown property offers a unique combination of storefronts for foot traffic and parking for destination shopping. The property has a variety of recognizable tenants including Buckies Biscotti, Power Yoga of Cape Cod, Red Nun Bar & Grill, Auntie’s Ice Cream, and Hot Diggity. Dennisport Village is surrounded by a diverse mix of national and local retailers all within walking distance, as well as a theater, playgrounds, service providers and restaurants.
Dennisport Village, LLC group purchased the nearly vacant and neglected center in 2010 with the vision of creating a thriving mixed-use property. The property required many significant improvements and updates at the time of purchase. As a result of these improvements, as well as hands-on asset management and leasing by Fred McFadden with Winslow Property Management, the property was nearly 100% leased with a diverse mix of retail, office and restaurant tenants prior to the sale. The project has played a substantial role in the revitalization of Dennisport, which is once again a thriving downtown with full storefronts and unique offerings for residents and visitors alike.
Chris McMahon of Summit Realty Partners represented the seller, Dennisport Village, LLC in these transactions.
Summit Realty Partners leases to Edward Jones and Mariano’s Italian restaurant; renews leases on 44,188 +/- SF including anchor tenant – Hannaford in Townsend, MA
Townsend, Massachusetts, March 27th, 2017- Summit Realty Partners, Inc. is pleased to announce the completion of new lease transactions with Edward Jones, Mariano’s Italian Restaurant, and Roofing & Closet Masters. Leases were executed with Edward Jones for a 1,349 +/- sf space, Mariano’s Italian Restaurant for a 1,685 +/- sf former restaurant space and Roofing & Closet Masters for a 2,096 +/- sf space. All three tenants are expected to open this year.
Edward Jones is a financial services establishment that serves clients throughout the United States and Canada. They are relocating their existing office in Townsend. Mariano’s Italian Restaurant is an affiliate of Bailey’s Bar & Grill and Mariano’s Italian Restaurant in Pepperell, MA.
Summit was also involved in renewing seven existing leases totaling 44,188 +/- sf at the shopping center. The renewals included Hannaford, Wine Nook, Bailey’s Bar & Grill, Santander, Harbor Village Cleaners, Precision Vision, and Nashoba Valley Counseling. These lease renewals add to the overall value of the shopping center, boasting a wide variety of national, regional and local tenants. Chris McMahon and Travis Ginsberg represented the Landlord in these transactions.
Harbor Village is a 99,707 +/- square foot grocery anchored shopping center located across the street from North Middlesex Regional High School. Harbor Village is anchored by Hannaford Supermarket, Rite Aid, and Planet Fitness. Leasing opportunities from 768 to 4,250 +/- sf remain at the shopping center.
With over 25 years of experience, Summit Realty Partners is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information and leasing opportunities visit www.summitrealtypartners.com or call 781-862-9700.
Summit Realty Partners leases 20,045 +/- SF to American Freight Furniture & Mattress in Cranston, RI
Cranston, RI March 16th, 2017: Summit Realty Partners, Inc. is pleased to announce the completion of a new lease transaction with American Freight Furniture & Mattress for a 20,045 +/- sf space at Independence Park Shopping Center. Chris McMahon represented the Landlord in the transaction.
American Freight Furniture & Mattress is a retail store offering quality brand furniture. Founded in Lima, Ohio, in 1994, American Freight now operates over 100 stores selling a variety of mattresses and furniture, including bedroom, dining room and living room furniture in the promotional to middle price ranges.
Independence Park is a 216,794 +/- square foot Super Walmart anchored shopping center located in a densely populated area. Other tenants include Planet Fitness, Dollar Tree, Cricket Wireless and McDonalds. The last space available for lease at Independence Park is 9,028 +/- sf and Summit is actively seeking prospective tenants.
With over 25 years of experience, Summit Realty Partners is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information and leasing opportunities visit www.summitrealtypartners.com or call 781-862-9700.
Summit Realty Partners leases 7,700 +/- SF to Pet Supplies Plus in Fairhaven, MA
Fairhaven, Massachusetts, January 30th, 2017 – Summit Realty Partners, Inc. is pleased to announce the completion of a new lease transaction with Pet Supplies Plus at Fairhaven Commons in Fairhaven, MA. A new lease was executed with Pet Supplies Plus for a 7,700 +/- sf retail store which is expected to open by mid-year. Chris McMahon and Travis Ginsberg represented the Landlord, TKG Fairhaven Commons, LLC, in the transaction while Bialow Real Estate represented the tenant.
Fairhaven Commons is a 212,393 +/- square foot shopping center located in the center of Fairhaven’s retail shopping market. Fairhaven Commons features anchor tenants such as Walmart, Marshalls, and Ocean State Job Lot. This shopping center also benefits from popular establishments such as Planet Fitness, Verizon, GameStop, and GNC. Fairhaven Commons has excellent visibility and easy access from the major intersection of U.S. Route 6 and State Route 240/Sconticut Road, just one-mile south of Interstate 195. The Fairhaven shopping center is located in a densely populated trade area with over 120,000 people residing within a five-mile radius.
Pet Supplies Plus is a retail store that specializes in quality pet food and supplies. Their products range from your basic needs for cats and dogs, to supplies for birds and reptiles. Summit Realty Partners is seeking tenants to lease the remaining 1,678 to 21,422 +/- sf available for lease at the shopping center.
Boasting over 25 years of experience, Summit Realty Partners is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information and leasing opportunities visit www.summitrealtypartners.com or call 781-862-9700.