Institutional Property Advisors Exclusively Offers Grocery-Anchored Shopping Center for Sale in Greater Boston
MERRIMACK, N.H., Oct. 23, 2023 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive offering for sale of Merrimack Village Center, a 82,292-square-foot neighborhood shopping center anchored by a Shaw’s supermarket in Merrimack, New Hampshire. The offering price is $17.6 million.
“Almost 80% of the square footage is occupied by three credit tenants, Shaw’s, a New Hampshire Liquor and Wine Outlet, and McDonald’s,” said Jim Koury, IPA senior managing director. “Shaw’s is only grocery store within a four-mile radius, the liquor store’s lease is backed by the State of New Hampshire, and the McDonald’s is on a separate out-parcel that can be sold off.”
Merrimack Village Center is directly off Interstate 293/Everett Turnpike, 40 miles from Boston between New Hampshire’s two largest cities, Manchester and Nashua. The cities are in the state’s most populous county, Hillsborough County, home to almost one-third of the state’s population.
Built in 2006 on over 10 acres, the center is 99% occupied. Other tenants include Sweet Ginger, Pizzico, Dental Designs of New England, Subway, Hana, Bliss Nail Salon, Smoker’s Haven, KT Cleaners, Supercuts, and a Chase Bank ATM. More information can be found at www.MerrimackIPA.com.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.