RK CENTERS ACQUIRES 777 SOUTH WILLOW STREET
RETAIL PROPERTY IN MANCHESTER, NH
74,935 SF Property Price Tag: $13,825,000
NEEDHAM, MASS. (Issued August 8, 2022) — RK Centers, the rapidly growing privately held family-owned real estate development company based in Needham, MA, continued its New England shopping spree by acquiring 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. The 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 and downtown Manchester, New Hampshire’s largest city. The population within a five-mile radius is about 140,000, and the 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.
About RK Centers: RK Centers is a privately held family-owned real estate development company that owns and manages over 10,000,000 square feet of commercial retail space, primarily ‘open air’ regional and community shopping centers in New England and South Florida. With minimal leverage, the company closes on acquisitions within 30 days with its own funds. With over 40 years of experience in real estate, RK Centers has a proven track record of success with tenants, customers, and communities with all in-house leasing and management functions. For company and property information, visit www.www.rkcenters.com – By Stan Hurwitz / email@example.com