West Lebanon, NH NKF Capital Markets has completed the sale of Powerhouse Plaza to The Jaffe Corp., which is headquartered in Ormond Beach, Fla. On behalf of Eastern Real Estate, NKF Capital Markets managing director Justin Smith of the Boston office, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the grocery-anchored shopping center.
Totaling 81,317 s/f, Powerhouse Plaza is anchored by a longstanding Shaw’s supermarket. Its diverse tenant roster also includes Rite Aid, New Hampshire Liquor & Wine Outlet and 99 Restaurant & Pub.
“Powerhouse Plaza boasts strong leasing momentum with a number of recent renewals from original tenants,” said Smith. “This activity is a clear testament to the asset’s exceptional positioning within a significant concentration of shopping centers that benefits from severely limited competition within a 15-mile radius.”