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Belmont, NH | Retail | Closed on RealINSIGHT Marketplace

  • Apr 09, 2020
  • Marketplace Closings

Grocery-anchored mall closes in just 14 days!

Belknap Mall in New Hampshire Sold in Online Commercial Real Estate AuctionRealINSIGHT Marketplace and Newmark Knight Frank are pleased to announce the closing of Belknap Mall in Belmont, New Hampshire. Situated on 22 acres along Route 3, the 214,523 SF grocery-anchored community center closed just 14 days after its appearance in the March 25th online CRE auction.

At the time of the sale, the property was 60% occupied, anchored by Shaw’s Supermarkets and boasting national retailers such as Jo-Ann Fabric & Craft, Planet Fitness, Dunkin Donuts and Big Lots. The property offered potential investors strong upside potential through near-term leasing and future redevelopment/repositioning potential.

To market the deal, Marketplace worked together with NKF to deploy a custom marketing plan that targeted potential buyers through digital, print, and direct outreach, resulting in 96 signed confidentiality agreements from 22 different states. Despite these challenging times, interest remained strong throughout the process and the offering garnered five registered bidders who competed in spirited bidding during the two-day online auction event. Within 24 hours the asset was under contract with a non-refundable deposit and the sale closed just two weeks later on April 8, 2020.

The success and speed of this sale demonstrate the power of the RealINSIGHT Marketplace platform. Our teams’ experience in the industry, the flexibility and power of our online auction process, and the teams' commitment and dedication to closing deals, is what makes RealINSIGHT Marketplace the fastest-growing online auction website in the country.

To learn more about this deal, please visit the Belknap Mall asset page or contact us at info@rimarketplace.com.