Franklin, NH JLL Capital Markets has closed the $11.5 million sale of a 51,230 s/f, single-tenant Hannaford Supermarket.
A subsidiary of Ahold Delhaize USA, Inc., the third-largest supermarket operator in the U.S., Hannaford Supermarket is the dominant grocery operator in northern New England. The grocer has occupied the property for nearly 30 years and recently extended its lease, demonstrating its long-term commitment to the location. Additionally, the 11.55 acre-property has the potential for a future development up to an additional 13,000 s/f.
The retail building is located at 952 Central St. along the heavily trafficked Rte. 3, in the Lakes Region located 20 miles from the state capital of Concord. The subject draws from a regional trade area and services the local population, and of Tilton, along with a heavy stream of tourists.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by managing director Nat Heald and senior managing director Chris Angelone.
“The Franklin Hannaford is another example of the tremendous liquidity we’re seeing in the single tenant supermarket space,” Heald said. “Demand continues to increase for retail product that was battle-tested through the pandemic and emerged even stronger than it went in. It was a pleasure working with both buyer and seller through this transaction.”
JLL Research released U.S. Grocery Tracker 2021 report discusses how grocery-anchored retail centers continue to be investors’ preferred retail property type. Along with grocery-anchored retail under 100,000 s/f, JLL expects single-tenant grocery assets like the local Hannaford to be one of the most sought-after asset classes during the recovery.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.