Amherst Street Village_Property for Sale
Amherst Street Village_Property for Sale
550 Amherst Street , Nashua, NH, 03063, US

Amherst Street Village

Asset Description

JLL Capital Markets has been retained as exclusive advisor for the sale of Amherst Street Village, a +/- 48,342 SF, 100% leased, pharmacy-anchored strip center in Southern New Hampshire. Located in Nashua, NH, Amherst Street Village is anchored by a highly visible Walgreens and a top performing PetSmart location that recently extended to 2036. The property is situated on three separate tax parcels, allowing an investor the unique opportunity to retain the property in part or in whole upon acquisition. In addition to Walgreens and PetSmart, the property contains a 12,842 SF unanchored strip, which has seen exceptional recent leasing momentum with 7,242 SF of new leases across five suites since 2021. All strip tenants have contractual annual rent increases or FMV market reset options, with a CAGR on that component above 3%.


Amherst Street Village is shadow anchored by Target, with 1.5 million annual visits per Placer.ai and is located on State Route 101A (Amherst Street), seeing upwards of 38,900 vehicles per day. Located on the MA/NH border, Nashua ranks second only to Boston for one of the highest concentrations of retail product in New England. The submarket boasts a low 3.1% retail vacancy rate with no new construction (according to CoStar), and with tax free shopping in New Hampshire, the Property is well positioned for sustained momentum.



NH Broker of Record

John Linell

NH 059056

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Attributes

Building area gross
48,342 sf
Occupancy
100%
Land area gross
5.4 acres
WALT
7.9 years

Media

Investment Highlights

  • Nationally recognized free-standing, separately parceled Walgreens and PetSmart anchors on long term leases


  • 48,342 SF center located in Nashua, NH with tax free shopping


  • 12,842 SF unanchored strip that has had exceptional leasing activity


  • Densely populated and affluent trade area with over 91,000 people and average incomes exceeding $124,200 within five miles


  • Shadow anchored by Target, with 1.5 million annual visits per Placer.ai


  • Significant recent leasing momentum, over 7,200 SF (5 Suites) leased since 2021 


  • Strong and stable in-place cash flow including the recent PetSmart renewal through 2036
Amherst Street Village 4_Property for Sale
Amherst Street Village 4_Property for Sale

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Amherst Street Village (0 Properties)

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Last updated
9 Jul 2024