Torrington Properties acquires 175,000 s/f Fort Eddy Shopping Center for $30 million

Concord, NH Torrington Properties has acquired the Fort Eddy Shopping Center for $30 million. The 175,000 s/f shopping center is fully leased and is the current home of Shaw’s, Books-A-Million, Staples, Eastern Mountain Sports, Five Guys Burgers & Fries, GameStop, H&R Block, Moritomo Japanese Restaurant and more. The center joins Torrington’s list of recent retail and commercial acquisitions and developments.

“We are grateful to both Eastern Retail Properties and the seller for the opportunity to acquire the Fort Eddy Plaza,” Torrington chief operating officer Matt Morgan said. “With its high visibility and excellent location off I-93, the Fort Eddy Shopping Center is a tremendous opportunity for us, and an addition to Torrington’s retail and commercial portfolio.”

 

 

Morgan said Torrington believes in the economic strength of Concord and the Fort Eddy Shopping Center while seeing an opportunity to further elevate the center to a premier retail destination over the next several years.

Eastern Retail Properties was the sole broker involved in this transaction.

“This property is in good hands with Torrington, who is becoming a major player in commercial real estate development,” Michael Hotarek of Eastern Retail Properties said. “Torrington has a great reputation in the industry as a company to watch in all sectors, and honored their commitments to get this generational asset closed in a challenging environment.”

The shopping center was sold by Eddy Plaza Associates LLC, a family company that has owned the property since it was built in 1979.

With about 67,500 s/f, Shaw’s is the primary anchor to the shopping center, followed by Staples in 35,000 s/f and Books-A-Million’s 31,000 s/f.

Torrington’s Recent Commercial Activity

Torrington is currently working to bring Chick-Fil-A into the Newington Park Shopping Center in Newington, which it acquired in fall 2021.

In October, 2022, Torrington acquired the vacant Sears store at the Mall at Fox Run in Newington for $11.5 million.

Earlier this summer, Torrington completed New Hampshire’s largest commercial office real estate acquisition in recent years with the $46.9 million purchase of 100 Domain Ave. in Exeter. The 263,000 s/f building’s tenant roster includes Bauer Hockey, FH Cann & Associates, and Garnett Hill.

It also signed a deal with ConvenientMD to relocate its corporate headquarters in the 44,000 s/f commercial building at West End Yards in Portsmouth, where Buffalo Wild Wings and another restaurant tenant will be located.