On behalf of Macy’s Retail Holdings, Inc., Colliers International | New Hampshire, has announced that 125 South River Road, Bedford, NH, has been sold. The roughly 16-acre site has been purchased by Encore Enterprises, Inc., a diversified commercial real estate investment firm, based in Dallas, Texas. Founded in 1999, Encore has completed over $1.6 billion of acquisitions and developments, with over 1.5 million square feet of retail space currently under management.
Encore has hired PCA Architects of Boston to assist in the redesign of the site into a lifestyle center that will add to the adjacent Whole Foods anchored project. PCA co-founder, David Chalinski, will be the lead architect for this project. He is known for creating vibrant and sustainable community places.
Bob Rohrer, managing director of Colliers in NH, who, with Ted Chryssicas, assisted both buyer and seller in this transaction, said, "Based upon their past development projects, Encore will be an excellent steward of this key Bedford site.”
Originally a Jordan Marsh location, this site has been operating as a department store for 50 years. “With Encore’s proven track record, and David Chalinski’s renowned architectural acumen, Bedford is going to be the beneficiary of a truly outstanding retail/office and hospitality center,” said Chryssicas, executive managing director of Newmark Grubb Knight Frank, a real estate firm with offices in Manchester.
The planned redevelopment of this site joins other recent retail developments in Bedford. The renovation of the Bedford Mall, anchored by Kohl’s and Fresh Market, Bedford Highlands (Target and Lowes), the recent repurposing of the Wayfarer hotel site into Goffs Mill Market (where Whole Foods is scheduled to open in late 2015 or early 2016) and the growth of Bedford Hills, home to the Copper Door restaurant.
Current Issue - May 2024