Manchester Commons Shopping Center | Manchester, NH
Retail | 92,236 SqFt
Marketing description
Atlantic Capital Partners has been exclusively engaged to market for sale Manchester Commons, a dynamic mixed-use shopping center located in Manchester, New Hampshire, ideally situated on South Willow Street anchoring the northern end of one of the most productive retail corridors in the state, as the dominant retail destination within the Manchester trade area attracting a steady flow of regional shoppers and benefiting from exceptional tenant performance and long-term market stability, totaling 92,236 square feet featuring 54,028 SF of at-grade retail and an additional 38,208 square feet of second-level space which attracts unique retail and office tenancy to the shopping center, presently 95% leased by 23 national, regional, and local retail tenants and anchored by The Zoo Health Club since November 2013 which has proven to be a significant strength to the rent roll with 9 locations across the state and rapid growth and expansion since the end of Covid, in addition to being shadow-anchored by a former Shaw’s grocery store with the 65,447 square foot box not included in the offering but leasing currently in progress to backfill the space and round out the center’s true anchor unit, offering an assemblage of two buildings that will prove to be a flexible asset with immediate cash flow and leasing upside in the future, with the asset being offered without a formal asking pricing through a call-for-offers process free-and-clear of existing debt.
Investment highlights
Service-Oriented Shopping Center: Institutional quality 92,236 square foot shopping center occupied by 16 service tenants that represent 73% of the revenue.
Long-Standing, High Performing Anchor Tenant: The Zoo Gym, which has operated a 15,293 square foot store across two levels since 2013, acts as a daily traffic-driver to the center attracting a myriad of consumers.
Proximity to Major Population Drivers: Manchester Commons, minutes from the Manchester-Boston Regional Airport serves over two million passengers annually and is the state’s primary air hub. The Property also benefits from proximity to four of the city’s five largest employers.
Immediate Upside via Lease-Up: Investors have the ability to immediately increase NOI by backfilling 2,138 square feet of second-floor vacant space and 2,880 of traditional at-grade retail.
Ideally Positioned Within the Submarket: Situated on the North side of South Willow retail node, this asset has exceptional access and visibility from the 21,400 vehicles per day that pass along this dominant corridor that services a sprawling trade area across several major New Hampshire Markets.
Attractive Hillsborough County Demographics: With direct access to the density of downtown Manchester and the affluence of the neighboring municipalities, Manchester Commons is home to a strong customer base, as evidenced by the assets’ trade-area demographics.
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