Southern New Hampshire Retail Highlights

Southern New Hampshire Retail Highlights Information is accurate as of Q4 2016:

Supply: 29.8M Sqft; Down from 29.9M in 2015

Absorption: -366,100 Sqft; Down from 283,300 Sqft in 2015

Vacancy Rate: Increased to 10.5%; 2015 vacancy rate was 9.6%

City/Town Ranks:  #1 Amount of Retail Space- Nashua

                                #1 Highest Occupancy-Salem

                                #1 Highest Vacancy Rate-Seabrook

Retailer Expansion by SQUARE FEET: #1-FitLab Fitness Club (86,400 Sqft.)

Retailer Expansion by NUMBER of STORES: #1-Mattress Firm/FitLab (5+ each)

Category Expansion by SQUARE FEET: #1-Grocery Stores (+76,300 Sqft)

Category Expansion by NUMBER OF STORES: #1- Medical/Dental Services (+6)

Summary: 

   

Category                                       2016                          2015                    %Change

Total Market Size (Sq ft)                29,830,500                29,939,900            -0.4%

Total Number Retail Properties      2100                          2100                       0.0%

Total Number Retail Est.                5300                          5400                       1.9%

Retail Store Avg Size                    5600sqft                     5600sqft                 0.0%

Total Market Vacancy Sqft             3,131,800                  2,875,100               8.9%

Vacant Stores                                779                           695                        12.1%

Vacancy Rate                                10.5%                       9.6%                        9.3%

The vacancy rate in the region increased from 9.6% in 2015 to 10.5% at the end of 2016, falling back to 2014 levels. However two-thirds of the increase in vacant square feet resulted from the closing of four (4) Sports Authority stores totaling 170,200 sq ft. Net absorption for the year was a negative 366,100 square feet.

Written by David DeLise, COO, NAI Norwood Group, ddelise@nainorwoodgroup.com

NTB Builds New Location in Nashua

NASHUA NH - NAI Norwood Group is pleased to announce the sale of 1.32+/- acres on Amherst Street in Nashua. NTB (National Tire and Battery) brought in their preferred developer to purchase the site with plans to build a new 7,000+ SF facility. John Hoben of NAI Norwood Group represented the buyer, and  Mike Tamposi represented the seller in this transaction. According to the Registry of Deeds the sale closed for $1,172,500. 

Through the NAI Global network,NTB was matched with John Hoben and NAI Norwood Group to assist them in growing their business in New Hampshire. John has been working with them directly for a few years and has completed several successful transactions.

NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

New Hampshire Malls Make the Grade

BEDFORD NH - According to SCT (Shopping Centers Today) July 2016 issue, two NH malls make the top 10. Research firm Green Street Advisors completed their annual ranking of the most productive malls in the U.S. based on each center's sales per square foot, location, quality of anchor tenants, and market demand.


Ranked at number 3 is The Mall at Rockingham Park, Salem NH. Annual sales psf: $2,170. Owner: Simon.

Ranked at number 5 is the Pheasant Lane Mall, Nashua NH. Annual sales psf: $1,595. Owner: Simon. 

Here are the top ten:

All information is courtesy of ICSC's Shopping Centers Today Magazine. For more information please visit their website at: www.icsc.org.

NAI Norwood Group Sells Former Nashua Courthouse

Nashua NH – NAI Norwood Group is pleased to announce the sale of the former Nashua Courthouse located at 25 Walnut Street. Judy Niles-Simmons and Karl Norwood represented the seller, the State of New Hampshire, in the transaction. According to the registry of deeds, the sale closed on June 18, 2015 for $720,000.

 The former Nashua -Courthouse, located at the Walnut Street oval, has a new owner, Walnut Nashua, LLC.  This downtown property is ready for its new life in the private sector.  The new owner had not revealed his plans for this 28,621+/- square foot building at the time of the sale. This former courthouse closed when the new facility opened at 30 Spring Street, Nashua NH.

NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

Former Nashua Courthouse Back on the Market

This 28,621+/- SF asset is back on the market with a price reduction.

Click the link below to read Union Leaser's Avenues about the state building for sale.

Price dropped on downtown site of former Nashua courthouse