Center at Colony Mill

Shopping Center for Sale
Catylist Listing ID: 30019863
Property Subtypes: Mixed Use, Neighborhood Center
Building Size (RSF): 99,854 SF
Gross Building Area: See Agent
Sale Price: $12,595,000
Unit Price: $126.13 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Center ar Colony Mill
Sale Terms: Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 3/22/2018

Overview / Comments

Brady Sullivan Properties is pleased to present for sale The Center at Colony Mill, 149 Emerald Street in historic Keene, New Hampshire. The masterfully designed 99,854 square foot mixed-use complex is situated over 7.7 acres, with exceptional frontage along the retail-dense Emerald Street and Gilbo Avenue and just steps from Keene’s bustling downtown.

The Center at Colony Mill is unmatched in accessibility, with lit signals in/out simplifying travel to and from the countless amenities of Main Street. Shoppers and business commuters alike enjoy streamlined access to major roadways in all directions, including NH-Route 101 (East/West), NH-Route 202 (North/South) and the Franklin Pierce Highway (Route 9). Recent upgrades to the building’s exterior façade, interior suites and common areas have
resulted in an increase to 99.4% occupancy over the last two years. The Center at Colony Mill’s strategic location in the heart of Keene’s Commerce Zone offers unmatched exposure in the strongest concentration of retail space in southwest New Hampshire. National anchor tenants in the immediate proximity such as Kohl’s, Famous Footwear, JC Penney, and Hannaford Supermarket pair exceptionally well with the vast array of service-oriented retailers including
TD Bank, Bank of America, CVS Pharmacy, Walgreens, Panera Bread and Dunkin’ Donuts.

Located in a bustling retail trade area, The Center at Colony attracts tax-free shoppers from Vermont and northern/central Massachusetts, altogether encompassing a population in excess of 125,000. The Cheshire County city is also home to Keene State College, whose students make up nearly 25% of the population of approximately 24,000 people. The attraction of shoppers locally and within a 15-20 mile radius make the Center at Keene one of the most desirable locations for the national chain and locally-owned retailer alike.

In addition to the captured audience in Keene, 149 Emerald Street is home to Cheshire Medical Center/Dartmouth-Hitchcock Keene, which brings countless unique (non-regular/ repeat) visitors to the site monthly. Corporate neighbors within the 99.4% leased property include Barton Associates, State of New Hampshire Department of Education, State of New Hampshire Employment Security, H&R Block, Adecco USA, and Connell Communications, in
addition to the Antioch University.

Additional Details

Nearest MSA: Keene
County: Cheshire
Tax ID/APN: 03113-047020040000
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Highway Access: Highway access points north, south, east and west with close proximity to NH Routes 101 and 202
Airports: Conveniently located near the Dillant-Hopkins Airport (EEN); within a 7 minutes drive (2.5 miles)
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1866
Roof Type: Other
Construction/Siding: Steel Frame
Parking Type: Surface
Total Parking Spaces: 433
Passenger Elevators: 1
Sprinklers: Wet
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,881 19,251 27,946
Median Age: 28.64 34.6 37.87
Households: 3,714 7,340 10,981


Photograph of Listing Agent

Charles N. Panasis

Brady Sullivan Properties
NECPE Member
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