NKF Arranges $27M Retail Sale in NH

The Davis Cos. acquired The Windalier Portfolio in West Lebanon, N.H., comprising three shopping centers totaling more than 230,000 square feet.
North Country Plaza, West Lebanon, NH
North Country Plaza, West Lebanon, NH

NKF Capital Markets has completed the sale of The Windalier Portfolio in West Lebanon, N.H. The Davis Cos. acquired the 230,035-square-foot asset for $27.2 million. NKF Managing Director Justin Smith, U.S. Head of Capital Markets Robert Griffin and Executive Managing Director Geoffrey Millerd represented the seller, Dead River Properties.

West Lebanon is located on the border of New Hampshire and Vermont, having easy access to Interstates 89 and 91. The three-asset portfolio included Kmart Plaza, Miracle Mile Shopping Center and North Country Plaza, all of which are situated near Route 12A, the region’s main retail corridor. At a total occupancy rate of 96 percent, The Windalier Portfolio includes a group of national retailers anchored by Kmart, T.J.Maxx and Jo-Ann Fabric and Craft Stores.

“Encompassing three attractive retail assets within a super-regional shopping hub, The Windalier Portfolio is a highly desirable portfolio that generated a very competitive bidding process. As The Davis Cos. continues to grow its retail portfolio, this sale represented the second transaction our team has closed with the firm in the last four months,” Smith said in a prepared statement.

In another recent deal, NKF arranged the sale of a Los Angeles-area retail asset for $38 million.

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