BURLINGTON, MA–McLaughlin Investments has brokered the off-market retail sale of Belknap Mall, a 235,000-square foot Shaw’s-anchored shopping center located in Belmont, NH for $7,850,000 to George Vernet, Vernco Belknap, LLC.
The center is centrally located along the Daniel Webster Highway (Rt.3) in southern sector of the NH Lakes region near Lakes Winnisquam and Winnipesaukee, Gun Stock Ski Resort, Laconia Municipal Airport, and other NH Landmarks.
John McLaughlin solicited the off-market acquisition on behalf of Vernet Properties, LLC, as Buyer Broker, and Belknap Realty, seller was represented by in-house counsel.
Shaw’s supermarket’s is the anchor tenant and master leases 38,500 square feet of the center of which Job Lots, Planet Fitness, Clear Choice Medical Clinic, Joann Fabric, Verizon Cellular, Super Cuts, Dunkin and other national and regional tenants occupy as well.
McLaughlin said Belknap Mall is one of two Shaw’s anchored shopping centers that are owned by Vernet Properties within NH, including other holdings such as the Raymond Shopping Plaza and Tuckaway Tavern. Vernet intends to reposition the asset and infuse upwards of $3mm in CAPEX and rebranding improvements needed to attract long term tenants.
