Published: 12/21/2022 9:12:14 AM
Torrington Properties has acquired the Fort Eddy Shopping Center in Concord that holds a Shaw’s supermarket, Staples and Eastern Mountain Sports for $30 million.
The 175,000-square-foot shopping center is fully leased and is the current home of multiple large stores and restaurants, including Books-A-Million, Five Guys Burgers & Fries, GameStop, H&R Block, Moritomo Japanese Restaurant and Rite Aid, among others.
The center joins Torrington’s growing list of recent retail and commercial acquisitions and developments in New Hampshire. Torrington acquired the vacant Sears store at the Mall at Fox Run in Newington for $11.5 million.
Chief Operating Officer Matt Morgan said Torrington was impressed with the economic strength of Concord and the Fort Eddy Shopping Center and sees an opportunity to further elevate the center to a premier retail destination over the next several years. Eastern Retail Properties was the sole broker involved in this transaction.
The shopping center was sold by Eddy Plaza Associates LLC, a family company that has owned the property since it was built in 1979.
With about 67,500 square feet, Shaw’s is the primary anchor to the shopping center, followed by Staples with 35,000 square feet and Books-A-Million’s roughly 31,000 square feet.
Torrington, which has offices in Boston and Durham, is currently working to bring Chick-Fil-A into the Newington Park Shopping Center in Newington, which it acquired in fall 2021. Earlier this summer, Torrington completed New Hampshire’s largest commercial office real estate acquisition in recent years with the $46.9 million purchase of 100 Domain Avenue in Exeter. The 263,000-square-foot building’s tenant roster includes Bauer Hockey, FHCann & Associates, and Garnett Hill.
It also signed a deal with ConvenientMD to relocate its corporate headquarters in the 44,000-square-foot commercial building at West End Yards in Portsmouth, where Buffalo Wild Wings and another restaurant tenant will be located.
For more information about Torrington Properties, visit https://www.torprops.com.