Single-tenant supermarket in New Hampshire sells for $11.5M
JLL Capital Markets arranges sale of the Hannaford Supermarket in Franklin, New Hampshire
BOSTON, May 3, 2021 – JLL Capital Markets announced today that it has closed the $11.5 million sale of a 51,230-square-foot, single-tenant Hannaford Supermarket in Franklin, New Hampshire.
A subsidiary of Ahold Delhaize USA, Inc., the third-largest supermarket operator in the U.S., Hannaford Supermarket is the dominant grocery operator in northern New England. The grocer has occupied the property for nearly 30 years and recently extended its lease, demonstrating its long-term commitment to the location. Additionally, the 11.55 acre-property has the potential for a future development up to an additional 13,000 square feet.
The retail building is located at 952 Central St. along the heavily trafficked Route 3 in Franklin, the heart of New Hampshire’s Lakes Region located approximately 20 miles from the state capital of Concord. The Franklin Hannaford draws from a regional trade area and services the populations of both Franklin and Tilton, along with a heavy stream of tourists.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Nat Heald and Senior Managing Director Chris Angelone.
“The Franklin Hannaford is another example of the tremendous liquidity we’re seeing in the single tenant supermarket space,” Heald said. “Demand continues to increase for retail product that was battle-tested through the pandemic and emerged even stronger than it went in. It was a pleasure working with both buyer and seller through this transaction.”
JLL Research’s recently released U.S. Grocery Tracker 2021 report discusses how grocery-anchored retail centers continue to be investors’ preferred retail property type. Along with grocery-anchored retail under 100,000 square feet, JLL expects single-tenant grocery assets like the Franklin Hannaford to be one of the most sought-after asset classes during the recovery.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.