Boston, MA (12/16/2016)
NGKF Capital Markets has successfully completed the sale of The Corner at Spit Brook Road in Nashua, New Hampshire to Linear Retail Properties for $12.5 million. Managing Director Justin Smith of the NGKF Capital Markets Boston team, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the prominent two-building offering on behalf of Saxon Partners.
Totaling 27,277 square feet, The Corner at Spit Brook Road comprises two freestanding single-tenant retail structures that are 100 percent occupied by national apparel retailer Old Navy and dominant fast food chain Burger King.
"Located along one of southern New Hampshire's most dynamic retail corridors, The Corner at Spit Brook Road generated a competitive bidding process," said Smith. "On behalf of our team, I would like to thank our client, Saxon Partners, and the buyer, Linear Retail Properties, both of which were instrumental in the seamless completion of this transaction."
Situated just one mile north of the Massachusetts border in sales tax-free New Hampshire, The Corner at Spit Brook Road is located at the intersection of Spit Brook Road and Daniel Webster Highway, which has an average traffic count of 24,800 vehicles per day. This prime retail location features three-, five- and 10-mile population counts of approximately 39,200, 108,300 and 378,100 people, respectively, with corresponding average household incomes of $100,900, $89,800 and $94,300.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.