JLL closes sale on 199,335 s/f Pentucket Shopping Center: Retail capital markets team led by Heald and Angelone

Plaistow, NH On behalf of Quincy & Company, JLL’s retail capital markets team completed the sale of Pentucket Shopping Center, a 199,335 s/f shopping center anchored by The Home Depot. Inland Real Estate Acquisitions, Inc. facilitated the purchase of the asset on behalf of Inland Real Estate Income Trust, Inc.

 

 

According to JLL executive vice president Nat Heald, “Pentucket Shopping Center offered investors a unique blend of credit-backed cash flow with the opportunity to realize upside potential in multiple ways. It is a proven retail location occupied by a wide range of major national credit tenants that draw shoppers from across southern New Hampshire and northern Massachusetts.”

Located along Rte. 125, just one-mile from the Mass. border and the densely populated city of Haverhill, Pentucket Shopping Center draws shoppers from an enormous trade-area given the allure of tax-free shopping and the absence of any direct competition within a 10-mile radius. Anchored by The Home Depot, the shopping center is also occupied by Bed Bath & Beyond, Staples and includes a Super Walmart shadow anchor, which was not purchased in the transaction. 

Heald and managing director Chris Angelone led the JLL team on the transaction. According to public records, the sale price was $24.1 million.