Levy of MEG Cos. completes leasing of North Broadway Crossing: developed by Capozzoli; designed by Annino Architects

August 02, 2012 - Northern New England

Andrew Levy, The MEG Companies

North Broadway Crossing, Salem, NH

North Broadway Crossing (NBC) has reached 100 % occupancy. The two newest leases are with Learning Express, which relocated from Pier One Plaza, and Sylvan Learning Center. Sylvan was represented by Hugo Overdeput of Grubb & Ellis| Northern New England.
NBC features four buildings and a wide assortment of tenants. One of the center's most important benefits was the new signalized intersection on Rte. 28, and three ingress and egress points.
Chris Capozzoli, the developer also built the adjacent Burlington Self Storage. Annino Architects was successful in incorporating design elements and colors from the storage development into the retail center to create a uniform look.
The center is anchored by McKinnon's Market & Super Butcher.
North Broadway Crossing has two front parcel ground leases, and two retail buildings. The pads are a 10 MPD Irving Oil &Circle K convenience store, and Pentucket Bank, who built a two-story brick building with two drive-throughs.
The two retail buildings tenants include Lady Grace Intimate Apparel, CLIX Digital Photography, Postal Center USA, Edible Arrangements, Crown Jewelers, Amy's Sew & Vac., Jeanie's Dry Cleaners, Fitness Together, Elizabeth Grady, Maddie's Bagel & Eatery, Prudential Verani Real Estate, Nationwide Insurance, and Wasabi Japanese Steakhouse
According to Andrew Levy, CCIM director of brokerage services for the MEG Companies, who was responsible for the marketing of this new ground-up development and who brokered all the retail leases, this was an exciting project to work on. "Our goal from the beginning was to be patient and selective, and seek out only the best tenants that would add valued to the center. Amazingly, though the economy declined right after construction began we were able to maintain steady leasing activity and almost zero turnover. Most incredible, we achieved some of the highest per square footage rents in the area," said Levy.


Add Comment