October 18, 2024 – Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of the North End Shops at Livingston Park in Manchester, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $11,669,056.
The North End Shops at Livingston Park are located at 535-555 Hooksett Road (US Route 3) in Manchester, New Hampshire. Constructed in 1987 and renovated in 2017, the North End Shops at Livingston Park are improved by a 51,048 square foot center on a large 4.41-acre parcel of land. The Property is 100% leased and is anchored by Dollar Tree with the remainder of the space leased to local and regional retailers and service tenants that serve the needs of the area residents. The leases for all but one of the tenants provide scheduled rent increases throughout the primary lease term and/or at the start of the renewal options providing an attractive increase in revenue and a hedge against inflation. Additionally, all of the tenants have net leases and are responsible for reimbursing their pro-rata share of all operating expenses, repairs, and maintenance. The Property has outstanding frontage and visibility and is positioned in between Southern New Hampshire University and Downtown Manchester along Hooksett Road (US Route 3), the area’s primary commercial and commuter corridor. The Property benefits from a traffic light and dedicated turning lanes at the entrance to the Property as well as two prominent signs, one at each end of the center. The North End Shops at Livingston Park enjoy convenient access to the area’s major highways (0.5-miles from Interstate 93 and 1.8-miles from Interstate 293) and is surrounded by densely populated residential neighborhoods that provide a built-in customer base. Additionally, the Property is close to area schools, the Manchester VA Medical Center, Downtown Manchester, and the banks of the Merrimack River.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.