ROCHESTER, NH– Torrington has expanded its New Hampshire retail footprint with the acquisition of The Ridge, Rochester, a 300,000-square-foot open-air shopping center anchored by nationally recognized brands. The company purchased the property from Waterstone Properties for $51.3 million, marking one of the region’s most significant retail real estate transactions of the year.
The Ridge, less than a decade old, boasts modern infrastructure, approximately 30 major tenants, and 4.3 million annual visitors, positioning it as one of the state’s premier retail destinations. Torrington, which operates out of Portsmouth, NH, and Boston, MA, described the center as a stable, high-quality asset that aligns with its long-term investment strategy.
“For us, this acquisition reflects confidence not only in the strength of the property itself, but in the continued growth and economic vitality of New Hampshire communities like Rochester,” said Jay Bisognano, Torrington Principal and CEO. “The Ridge is anchored by high-performing national retailers with a proven regional draw, making it both a durable investment and an asset we’re proud to own.”
Situated just off Route 11 and within two miles of the Spaulding Turnpike, The Ridge attracts shoppers from across New Hampshire and northern Massachusetts, including more than 430,000 visitors each year who travel over ten miles to reach the plaza. Major tenants include Walmart, Market Basket, Marshalls, Hobby Lobby, Old Navy, and a New Hampshire Liquor & Wine Outlet, alongside restaurants such as 110 Grill and specialty retailers like Ulta Beauty and Gentle Dental.
“The Ridge exemplifies the strong bricks-and-mortar fundamentals that drive our retail strategy,” said Matt Morgan, Torrington Chief Operating Officer. “New Hampshire continues to offer dynamic, high-quality retail opportunities, and we’re proud to add The Ridge to our growing portfolio.”
Financing Partners Cite Strong Property Fundamentals
The acquisition was financed through Rockland Trust and Goedecke & Co., both of which praised Torrington’s track record and the property’s strong performance.
“We’re delighted to support Torrington in their acquisition of The Ridge,” said Peter Staiti, regional commercial banking executive at Rockland Trust. “We value our relationship with the Torrington team and are proud to help advance the success of this signature New Hampshire retail destination.”
Goedecke Principal Paul Natalizio said the combination of Torrington’s expertise and the center’s robust performance helped secure an aggressive fixed-rate financing package. “When you combine a property with a consistent history of performance in a great location along with the strength and experience of Torrington, you are going to get strong interest from a variety of lenders.”
The Ridge joins Torrington’s expanding portfolio of prominent New Hampshire retail properties, including Fort Eddy Plaza in Concord, Mill Plaza in Durham, Portsmouth Green, The Mall at Fox Run, and the Newington Park Shopping Center. Beyond retail, the company also owns multi-family housing, hotels, Class A office space, and mixed-use developments, reinforcing its position as a leading commercial real estate investment and development firm in the region.
