RK Centers, a privately held family-owned real estate development company based in Needham, MA, continued its New England shopping spree with its acquisition of the open-air retail property at 777 South Willow Street in Manchester, NH.
The building consists of 74,935 square feet on 11.85 acres and is home to two blue-ribbon tenants, Burlington Stores and Michaels. Purchase price was $13,825,000.
The announcement was made by Kenneth Fries, RK Centers’ VP of Development and Acquisitions.The seller was South Willow EDF, LLC, and their broker was Justin Smith, Head of Capital Markets at Atlantic Capital Partners.
Located just off Rte. I-291 and close to I-93, this site is part of a regional retail area serving surrounding communities as well as downtown Manchester, New Hampshire’s largest city. The population within a five-mile radius is about 140,000 and average household income is nearly $87,000.
RK Centers owns and manages a substantial portfolio of open air regional and community shopping centers across New England and South Florida comprising over 10 million square feet.