AEW Buys Royal Ridge Center in Nashua

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Boston — NKF Capital Markets has completed the sale of Royal Ridge Center in Nashua, New Hampshire to AEW on behalf of one of its separate account clients.

On behalf of O’Connor Capital, NKF Capital Markets Managing Director Justin Smith of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the 220,100-square-foot shopping center.

Presently 100 percent occupied, Royal Ridge Center features a national tenant roster anchored by Shaw’s, Marshalls, buybuy BABY, HomeGoods, PetSmart and Sierra Trading Post.

“Royal Ridge Center serves as home to highly productive retailers, as evidenced by the strong performance reported across its diverse rent roll,” said Smith. “In a clear testament to its desirability, the property’s former Sports Authority space was quickly backfilled by HomeGoods and Sierra Trading Post.”

Royal Ridge Center is conveniently located just across the Massachusetts border within New Hampshire’s tax-free shopping environment. Home to the synergistic Pheasant Lane Mall, this regional shopping destination boasts three- and five-mile population counts of approximately 44,900 and 113,400 people, respectively, with corresponding average household incomes of $97,500 and $92,700.