Derry, NH Holliday Fenoglio Fowler, L.P. (HFF) closed the sale of and arranged financing for Hood Commons, a 208,805 s/f, grocery-anchored shopping center.
HFF marketed the property on behalf of the seller, NG Hood Commons LLC, and procured the buyer, an affiliate of New York-based Northeast Capital Group. Additionally, HFF assisted the new owner in securing a 70% loan-to-value, 3.79%, 10-year, fixed-rate acquisition loan with additional good news fundings.
Hood Commons occupies a 23-acre site at 55 Crystal Ave., a community 32 miles north of Boston.
Fronting the heavily traveled Rte. 28, the property has daily traffic counts of 15,000 cars per day and has a five-mile demographic profile of nearly 60,000 people. The property is two miles from I-93, allowing the site to draw from a broad geographic region including communities in both northern Massachusetts and southern New Hampshire. Renovated in 2015, Hood Commons is 86% leased to tenants including Shaw’s Supermarket, Big Lots, Tractor Supply Co., Planet Fitness and Sally Beauty.
The HFF investment sales team representing the seller was led by senior managing director Jim Koury.
HFF’s debt placement team was led by director Porter Terry.
HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.