McLaughlin Arranges $7.85M Sale of Belknap Mall In NH Lakes Region
March 10, 2022
BELNAP—John McLaughlin of 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. The Bulington based broker completed the trade to George Vernet, Vernco Belknap, LLC, according to a release.
The center is centrally located along the Daniel Webster Highway (Rt.3) within the southern sector of the NH Lakes region and a ten-minute drive time to Lakes Winnisquam and Winnipesaukee, Gun Stock Ski Resort, Laconia Municipal Airport, marinas, and other NH Landmarks.
“Shaw’s supermarkets 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,” confirmed McGlaughlin.
McLaughlin solicited the off-market acquisition on behalf of Vernet Properties, LLC, as Buyer Broker, and Belknap Realty. The seller was represented by in-house counsel.
McLaughlin indicated Belknap Mall is one of two Shaw’s anchored shopping centers that are owned by Vernet Properties of Salem, MA, in addition to other holdings including the Raymond Shopping Plaza and Tuckerway Tavern. Vernet intends to reposition the asset and infuse upwards of $3mm in CAPEX and rebranding improvements they say needed to attract long-term tenants.
