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DERRY, NH:Summit Realty Partners is pleased to announce that The Zoo Health Club has signed a lease at Derry Meadow Shoppes located at 35 Manchester
Road in Derry, NH near Hannaford and Derry Five Star Cinema. The tenant plans
to open a 23,820 square foot, full service, state of the art health club which
will fill a void at both the shopping center and in the community for a full
service health club with top of the line equipment and services.
The Zoo Health Club is a national
fitness franchise with its nearest existing location in Manchester, NH. According
to its Manchester website the company’s mission is to provide the means,
expertise, motivation, and atmosphere that will enable people of all fitness
levels the ability to achieve their individual fitness goals and promote a
healthier way of living through an inviting environment.
In addition to monthly memberships,
the health club plans to offer other services including one-on-one and group
personal training, weight loss programs and products, smoothies and protein
shakes, and tanning. Also, Zoo Health Club will have child care services
exclusively for its members.
The Zoo Health Club plans to open
in Derry in mid-September, 2014. Starting on Saturday July 26th, a
sales office will be open at Derry Meadows Shoppes for membership pre-sales.
The sales office will be located adjacent to Dollar Tree. For a short time only, Zoo is offering a special monthly discount for
the first 200 members. For more information about memberships, please call
Julian Pecorino @ 603.782.5016.
Summit Realty Partners is a commercial real estate firm
headquartered in Lexington, Massachusetts. Summit Realty provides brokerage and
property management services throughout the United States. They specialize in
commercial property with an emphasis on retail. More information can be found
at www.summitrealtypartners.com or by calling Chris McMahon at 781.862.9700
STRATHAM, NEW HAMPSHIRE: Summit Realty Partners is pleased to announce several new shopping center leases on Portsmouth Avenue in Stratham, NH as a result of an assignment as the leasing agent for the new “Exeter Crossing Shopping Center”. The previously neglected property was purchased in 2013 with the new owner’s major design, re-development, and leasing plans in mind for a modern and convenient shopping center.
Since the acquisition, leases have been executed with several new tenants expected to open this year including Georgetown Bank,
Convenient MD, and Little Sprouts. The addition of these new tenants
will make the shopping center, which is located at the intersection of
Route 101 and Portsmouth Avenue (RT 108), a daily destination for local
residents and shoppers.
In addition, Lindt Chocolate executed a long term lease extension for their flagship outlet store at the shopping center which is in close proximity to the Swiss chocolate manufacturers United States headquarters. Allstate, Subway and Lady K Salon are expected to remain at Exeter Crossing once renovations are complete. These leases bring the retail portion of the 38,000 +/- square foot neighborhood shopping center to 100% occupancy.
Sarnia Properties, the owner of Exeter Crossing is in the process of re-developing the property with extensive exterior building and site work upgrades to the shopping center. Two small houses and a large section of the existing retail building were demolished to make way for the improved building design and parking layout. These upgrades include a new buildings, new facade, upgraded sign bands, new pylon sign, new parking lot, parking lot lighting, new landscape islands improving the flow of traffic, and new landscaping. Construction is expected to be completed sometime this August.
Katz Properties, a New York real estate investment, development and
management company with offices in Boston, has purchased the Embassy
Cinema in Waltham for $3.1 million.
cinema in the downtown was sold by Ship To Shore LLC. The Belmont firm
purchased the one-acre lot at 16 Pine St. in 1997 for $550,000 and built
the six screen theater the following year. It is assessed at $3.1
Daniel Katz, a principal of Katz Properties, said he plans to keep the cinema as a tenant.
“While our focus remains on multi-tenant, supermarket-anchored
shopping centers, we are eager to take advantage of good opportunities
in the single-tenant, triple-net space, especially on a great corner in a
dynamic town like Waltham,” he said.
BALTIMORE, MD. - The Southport office of Goedecke
& Co., LLC has arranged $5,215,000 million in financing for the
acquisition of Giant at Milford Mill, a 68,720 sf neighborhood shopping
center anchored by Giant.
Goedecke Principal Timothy Breda, and senior associate Kristin Zuckerman
worked exclusively on behalf of the buyer, to secure a long term, fixed
rate, non-recourse loan from American Equity Investment Life Insurance
Company. The borrower is a single purpose entity controlled by Katz
Properties LLC, a full service real estate company that invests in the
Northeast and Mid-Atlantic regions, with a focus on high quality grocery
anchored centers in primary and secondary markets.
MILFORD, MA: Summit Realty Partners is pleased to announce that Dollar Tree has signed a lease and opened a new store on Route 140 at Milford South Plaza. This store opening brings the 45,000 +/- square foot neighborhood shopping center to 100% occupancy. Summit Realty Partners would like to thank John Wise for his involvement in the transaction as Dollar Tree’s broker. In conjunction with representing the Landlord in lease negotiations with Dollar Tree, Summit Realty Partners has also renewed leases with Big Lots and with Milford Savings Bank ensuring long term stability for the shopping center. As a result, the Landlord is planning to complete significant exterior building and site work upgrades this spring. These upgrades include new exterior paint, upgraded sign bands, new landscape islands improving the flow of traffic, and new landscaping. Summit Realty Partners is a commercial real estate firm providing brokerage and property management services. Headquartered in Lexington, Massachusetts and operating throughout the United States, we specialize in commercial property with an emphasis on retail. More information can be found at www.summitrealtypartners.com or by calling Chris McMahon at 781.862.9700 X225.
Woburn, MA: Summit Realty Partners is pleased to announce the recent sale of a mixed use building located at 307 Main Street in Woburn, Massachusetts. The buildings’ long vacant retail space was previously occupied by Masotta’s Variety Store and the top three floors as a private residence.
Christopher Ragusa and Michael Balas of Ryeknot Properties, LLC have purchased the 6,800 +/- square foot building and the adjacent vacant lot located at the intersection of Main and High Streets. The new owner has received the necessary permits to renovate the existing building creating a first floor restaurant space for Orange Leaf Frozen Yogurt and three dwelling units on the floors above. In addition, the building will be expanded to include four new dwelling units on the vacant High Street lot above fourteen parking spaces.
During the permitting process City officials praised both the former owner of the building for finding a buyer that would develop the downtown area in a positive manner and Ryeknot Properties for implementing smart growth and adding to the downtown area. Ward 6 Alderman Michael Raymond was quoted saying “I think more projects like this are needed in Woburn”.
The fifty eight seat Orange Leaf plans to open by this summer with a rotating selection of flavors and will be operated by a local franchisee. The Oklahoma City based franchise company has become a well known brand in New England over the past few years for the quality and variety of its self-serve frozen yogurt, the stimulating and family friendly atmosphere of its stores, and for its involvement in the communities which it operates.
Chris McMahon of Summit Realty Partners represented the Buyer and Peter Carbone of Carbone Commercial Real Estate represented the Seller in the sale transaction. The sale price was $625,000.
Ryeknot Properties is based in Newburyport, Massachusetts and is currently seeking similar commercial real estate acquisition opportunities.
Summit Realty Partners is a full service commercial real estate firm based in Lexington, Massachusetts. More information can be found at www.summitrealtypartners.com or by calling 781.862.9700.