January 31, 2022 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the Merrimack 360 in Merrimack, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $16,900,000.
Merrimack 360 is located at 360 Daniel Webster Highway in Merrimack, New Hampshire. Completed in 2018, the three-building Property contains 80,795 square feet of gross leasable area on a 14.08-acre parcel. The Property is part of a four (4) unit condominium interest. The offering is for Unit 1, a 76,095 square foot inline building, Unit 3, a pad site improved by a 3,000 square foot building leased to Triangle Credit Union, and Unit 4, a pad site improved by a 1,700 square foot building leased to Hayward’s. Unit 2 (not part of the offering) is a parcel of land behind Unit 1 that is being developed for residential use. Ten of Merrimack 360’s eleven tenants are on 10-year leases, and every tenant has established renewal options. The Rent roll has a weighted-average of over 7 years of lease term remaining. 82% of the tenants at Merrimack 360 have scheduled rent increases in their primary lease terms and 100% of the tenants have scheduled increases in their renewal options providing the investor with an attractive increase in revenue and a hedge against inflation. Merrimack 360 is anchored by Altitudes, a state-of-the-art trampoline and adventure park, Planet Fitness, Dollar General, Triangle Credit Union, Beer & Wine Nation, Thirsty Moose Taphouse, Tucker’s (restaurant), Hayward’s, Mer at Merrimack (restaurant), Myrilux, and Great Clips (barber shop/hair salon). The Property is situated on a highly visible parcel with a signalized entrance along Daniel Webster Highway (US Route 3). US Route 3 is the area’s primary commercial and commuter corridor traversing Merrimack and connects the town with Manchester to the north and Nashua to the south. The Property is extremely well located and benefits from outstanding visibility and access along US Route 3 in the center of Merrimack.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.