News: Retail
Posted: June 23, 2023
McMahon and Ginsberg of Summit Realty
sell 6,098 s/f restaurant building for $1.4m
Tilton, NH Summit Realty Partners, Inc. arranged the sale of a 6,098 s/f, 135-seat, full-service restaurant building on 3.32 acres. 18 Lowes Dr.(Rte. 3) sold for $1.4 million on June 1, 2023.
Summit Realty Partners, Inc. was approached by the property owner in January 2023 with a requirement to sell or lease the property after discovering that their current tenant was not planning to renew its lease. Summit implemented a full-scale marketing campaign to promote the prominent restaurant property and ended up receiving multiple offers to purchase. The property is located at the entrance to Tilton Center which is anchored by Lowe’s, Kohl’s, Pizza Hut and Aspen Dental. The location is within a major regional retail trade area that benefits from several big box retailers such as Walmart, Market Basket, BJ’s Wholesale, Home Depot and the Tanger Outlets.
The buyer was Tree Line Ventures, LLC who plans to continue to utilize the property as a restaurant. Chris McMahon and Travis Ginsberg of Summit Realty Partners Inc. represented the seller in this transaction.
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