NEEDHAM, MA – March 2, 2017 – RK Centers has acquired a 103,000 square foot shopping center in Bedford, New Hampshire from Eastern Development for $14 million. The sale was brokered by Geoffrey Millerd and Justin Smith of NGKF Capital Markets.
The property is located at the confluence of Route 293, Route 101, and Route 3. The center is anchored by a high volume Hannaford Supermarket which recently relocated from a successful nearby location. The remainder of the tenant roster is comprised of HomeGoods, Supercuts, and TCBY. Other retailers along the Route 3 retail corridor include Whole Foods, Target, Walmart, Lowe’s, Kohl’s, and Marshalls.
“We are looking to increase our presence in Southern New Hampshire” said Ken Fries of RK Centers. The company’s New Hampshire portfolio includes properties in Hooksett, Merrimack, and Windham.
RK Centers has been actively acquiring properties in New England, purchasing 15 properties totaling approximately 1,600,000 SF over the past 24 months.
RK Centers is a privately held, family-owned real estate development company, which currently owns over 8,000,000 square feet of commercial space. RK Centers acquires, develops, and operates prime “open air” regional and community shopping centers in New England and South Florida. With a stable business model utilizing a minimal amount of leverage, the company is poised to acquire additional properties as it continues to grow its portfolio. The company typically closes on acquisitions in less than 30 days with its own funds, thereby eliminating the need to obtain financing. With over 35 years of experience in real estate, RK Centers has a proven track record of success with tenants, customers and the communities in which it operates. All of RK Centers’ leasing and management functions are performed in-house by experienced company staff.
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