Vernco Belknap, LLC Acquires Belknap Mall In Belmont, NH For $7.85M | 96 Daniel Webster Highway | John McLaughlin | Retail | Sale

Summary

Sale

NEW HAMPSHIRE

Retail

240,000 sqft

Belknap Mall, a 235,000-square foot Shaw’s-anchored shopping center located in Belmont, NH, has been sold for $7,850,000. The off-market retail sale was brokered by John McLaughlin of McLaughlin Investments. The center is situated along the Daniel Webster Highway (Rt.3) in the southern sector of the NH Lakes region, with convenient access to Lakes Winnisquam and Winnipesaukee, Gun Stock Ski Resort, Laconia Municipal Airport, marinas, and other New Hampshire landmarks.

Summary of transation details

Property Type: Retail
Transaction Amount: $7,850,000
Address: 96 Daniel Webster Hwy, Belmont, NH
Market: Belmont, NH
Square Footage: 235,000
Price Per Square Foot: $33
Buyer: Vernco Belknap, LLC
Seller: Belmont Realty, LLC
Buyer's Representative: John McLaughlin - McLaughlin Investments

George Vernet, representing Vernco Belknap, LLC, acquired Belknap Mall. The shopping center features Shaw’s supermarket as the anchor tenant, occupying 38,500 square feet of the center. Other national and regional tenants, including Job Lots, Planet Fitness, Clear Choice Medical Clinic, Joann Fabric, Verizon Cellular, Super Cuts, and Dunkin, also lease space within the mall. Vernet Properties, LLC, the buyer, plans to invest upwards of $3 million in capital expenditures and rebranding improvements to attract long-term tenants.

Players

All
1

Agents
1

John McLaughlin

Principal

$86.6M Sold

Details

Deal Summary

SOLD

IMAGE: John McLaughlin DATE: 02/11/2022 ADDRESS: 96 Daniel Webster Hwy MARKET: Belmont, NH ASSET TYPE: Retail BUYER: Vernco Belknap, LLC SELLER: Belmont Realty, LLC BUYER'S REP: John McLaughlin - McLaughlin Investments SALE PRICE: $7,850,000 SF: 240,000 ~ PPSF: $33 NOTE FROM BROKER: "McLaughlin Arranges $7.85M.85 Sale of Belknap Mall, Belmont, NH, Lakes Region" John McLaughlin, McLaughlin Investments, Burlington, has brokered the off-market retail sale of Belknap Mall, a 235,000-square foot Shaw’s-anchored shopping center located in Belmont, NH for $7,850,000 to George Vernet, Vernco Belknap, LLC. The center is centrally located along the Daniel Webster Highway (Rt.3) within southern sector of the NH Lakes region and a ten-minute drive time to Lakes Winnisquam and Winnipesaukee, Gun Stock Ski Resort, Laconia Municipal Airport, marinas, and other NH Landmarks. McLaughlin solicited the off-market acquisition on behalf of Vernet Properties, LLC, as Buyer Broker, and Belknap Realty, seller was represented by in-house counsel. “Shaw’s supermarket’s is the anchor tenant and master leases 38,500 square feet of the center of which Job Lots, Planet Fitness, Clear Choice Medical Clinic, Joann Fabric, Verizon Cellular, Super Cuts, Dunkin and other national and regional tenants occupy as well. McLaughlin indicated Belknap Mall is one of two Shaw’s anchored shopping centers that are owned by Vernet Properties within NH, including other holdings such as the Raymond Shopping Plaza and Tuckerway Tavern. Vernet intends to reposition the asset and infuse upwards of $3mm in CAPEX and rebranding improvements needed to attract long term tenants.

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Address96 Daniel Webster Highway

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