Newmark Capital Markets has successfully completed the sale of The Windalier Portfolio in West Lebanon, New Hampshire to The Davis Companies for $27.15 million. Managing Director Justin Smith of the Newmark Capital Markets Boston office, led by U.S. Head of Capital Markets Robert Griffin and Executive Managing Director Geoffrey Millerd, oversaw the transaction of the three-asset retail offering on behalf of Dead River Properties.
Totaling 230,035 square feet, The Windalier Portfolio comprises Kmart Plaza, Miracle Mile Shopping Center and North Country Plaza, all of which are located along or near Route 12A, the region’s dominant retail corridor. Presently 96 percent leased, The Windalier Portfolio features an ideal mix of national retailers anchored by Kmart, T.J.Maxx and Jo-Ann Fabric and Craft Stores.
“Encompassing three attractive retail assets within a super-regional shopping hub, The Windalier Portfolio is a highly desirable portfolio that generated a very competitive bidding process,” said Smith. “As The Davis Companies continues to grow its retail portfolio, this sale represented the second transaction our team has closed with the firm in the last four months.”
Located on the New Hampshire-Vermont border with exceptional access from Interstates 89 and 91, West Lebanon enables shoppers to benefit from New Hampshire’s sales tax-free retail environment and draws consumers from a wide geographic trade area. This super-regional retail destination features five- and 10-mile population counts of approximately 23,700 and 48,300 people, respectively, with coinciding average household incomes of $74,200 and $88,800.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’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; Newmark Capital Markets services, including investment sales, debt placement, valuation and advisory 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.
Newmark 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.