Site of Whole Foods Market in Nashua sold for $27m

CBRE/New England handles sale of Turnpike Plaza

The Turnpike Plaza shopping center at 253 Amherst St. in Nashua – site of the Whole Foods supermarket in Nashua that’s set to open Aug. 19 – was sold in July for $27 million — $204.91 per square-foot for the 131,768-square-foot property.

CBRE/New England represented the seller, Allen Nashua LLC. The transaction was led by Chris Angelone and Brad Nathanson, both executive vice presidents at the firm, and Nat Heald, senior vice president.

Chop Acquisition LLC of Massachusetts was the buyer.

With what Angelone called “Whole Foods frenzy” in the Nashua area, “the property had a tremendous demand.

“The addition of Whole Foods attracts best-of-class retailers, which in turn allows an owner to realize much better rental appreciation given the additional foot traffic generated for the remaining tenancy. In the end, we traded the asset to a local 1031 private trust that paid all cash,” said CBRE New England’s Brad Nathanson.

The property is already home to Staples, A.C. Moore and Bob’s Stores.

Whole Foods plans to open its second New Hampshire location in downtown Portsmouth next year and ahs plans to open a third store in Bedford.

Categories: Real Estate & Construction