Torrington purchased The Ridge, Rochester, a 300,000 square-foot commercial retail center with approximately 30 tenants, for $51.3 million from Waterstone Properties.
Torrington purchased The Ridge, a 300,000 square-foot commercial retail center in Rochester with approximately 30 tenants, for $51.3 million from Waterstone Properties. Torrington, headquartered in Portsmouth and Boston, Mass., states the plaza, which opened less than 10 years ago, attracts 4.3 million annual visitors.
“For us, this acquisition reflects confidence not only in the strength of the property itself, but in the continued growth and economic vitality of New Hampshire communities like Rochester, where quality retail and strong access come together,” says Torrington Principal and CEO Jay Bisognano. “The Ridge is anchored by high-performing national retailers with a proven regional draw, making it both a durable investment and an asset we’re proud to own given its significance to the region.”
Located just off Route 11 and less than two miles from the Spaulding Turnpike, more than 430,000 Ridge visitors come from more than 10 miles away. Tenants include Walmart, Market Basket, Marshalls, Hobby Lobby, Old Navy, NH Liquor & Wine Outlet, 110 Grill, Ulta Beauty, and Gentle Dental.
“We’ve built our retail investment strategy around strong bricks-and-mortar fundamentals—properties anchored by leading regional and national retailers that drive consistent traffic and stable returns,” says Torrington Chief Operating Officer Matt Morgan. “New Hampshire continues to offer dynamic, high-quality retail opportunities that fit this model. The Ridge exemplifies that strength, and we’re proud to add it to our growing portfolio.”
Torrington’s investment was made with financing from Rockland Trust and Goedecke & Co. Its portfolio of grocery-anchored retail centers in NH include the Fort Eddy Plaza in Concord, Mill Plaza in Durham, and Portsmouth Green in Portsmouth . Torrington also owns The Mall at Fox Run and the Newington Park Shopping Center, both in Newington.
Torrington’s portfolio also includes multi-family housing, hotels, Class A office space and mixed-use commercial and retail.