Atlantic Capital Partners sells Miracle Mile & North Country Plaza

West Lebanon, NH Atlantic Capital Partners has finalized the sale of North Country Plaza and Miracle Mile, two convenience-oriented shopping centers.

North Country Plaza is 20,700 s/f and is 62% leased to five retail tenants and anchored by Panera Bread and Verizon.

Miracle Mile is 30,307 s/f and is 100% leased to six service-oriented retail tenants with a weighted-average tenure of 16.5 years.

Justin Smith, head of capital markets and Sam Koonce, associate, oversaw the transaction which had Atlantic Capital Partners exclusively representing the seller and procuring the buyer. Smith said, “These two shopping centers are ideally situated and tenanted to service the local community in West Lebanon, the Upper Valley’s largest concentration of retail.”

North Country and Miracle Mile are located along the border of New Hampshire and Vermont, drawing shoppers from an expansive trade-area. Benefiting from the proximity to I-89 and 91, North Country and Miracle Mile draws shoppers from the two growing communities of Lebanon and West Lebanon, which includes a population of 28,674 people.

Both assets have exceptional visibility along their respective corridors and feature some of the region’s longest operating retailers, such as Hubert’s which has maintained a presence along Route 4 since 1998.

With neighbors like Dartmouth College, Franklin Pierce College, Dartmouth Hitchcock Medical Center and Norris Cotton Cancer Center, the local economy has been one of the strongest throughout the state for years. Sam Koonce, Associate for Atlantic said, “The West Lebanon submarket draws from an exceptionally wide trade-area resulting in extremely strong store performance.” He went on to mention, “This is why you have seen the recent emergence of such category leading retailers as Target and Sierra Trading electing to open new stores to serve this part of the state.”