Vol.46, No.44
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W E E K O F M O N D A Y, O C T O B E R 2 8 , 2 0 2 4
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
BIG BETS
Portsmouth
430 WEST RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,500,000 B: 430 West Rd LLC S: Deh Ventures LLC
Bedford
23 ARROW HEAD DR. . . . . . . . . . . . . . . . . . . . . . . . . . $3,330,000 B: Randall M Shaw, Tr for Randy Shaw T S: Heather M Newell, Tr for Heather M Newell T Use: 4 Bdrm Conventional, Lot: 109771sf
Dover
NH Malls Eye Jackpots from Out-of-State Casino Operators With Anchor Stores Dying, Developers Look for Replacements BY JAY FITZGERALD
Hollis
56 DOW RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,925,000 B: Nathaniel Irvine, Tr for Nathaniel Irvine RET S: Stand Sure Realty LLC
Newington
2001 WOODBURY AVE . . . . . . . . . . . . . . . . . . . . . . . . $2,900,000 B: Newington Crossing LLC S: Rpi Newington Realty LLC Use: Shopping Ctr/Mall, Lot: 89298sf
Meredith
14 BAYSHORE DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,850,000 B: David B Kapson, Tr for Bayshore RT S: David Phair Sr & Helen Phair Use: 4 Bdrm Cape Cod, Lot: 7405sf
Wolfeboro
4 CAMPFIRE LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,740,000 B: 4 Campfire Lane LLC S: Patricia R Merena, Tr for Patricia R Merena RET
Conway
1455 WHITE MT HWY. . . . . . . . . . . . . . . . . . . . . . . . . $2,137,533 B: Conway Lakehouse LLC S: 145 Hill Road LLC
Portsmouth
18 PORTER ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,100,000 B: George M Rogers 3rd & Anna-Marie H Rogers S: Richard A Ferdinand, Tr for Ferdinand-Rigazio FT
Conway
1455 NH ROUTE 16. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,020,000 B: Clean Bubbles LLC S: Hydrokinetic EFX Ltd Mtg: Granite St Econ Devel $872,000
Madbury
10 LEE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,007,533 B: 10 Lee Road LLC S: Sap Properties LLC & Bayside Properties LLC Mtg: Eastern Bank $1,600,000 Use: Mixed Use-Prim Comm & Other, Lot: 1586891sf
SPECIAL TO THE REGISTRY REVIEW
S
ince the onset of last decade’s “retail apocalypse,” New Hampshire shopping mall owners have recruited a number of new non-retail tenants to fill empty spaces – fitness centers, healthcare clinics, restaurants and other service-industry businesses. Some mall owners have taken even more radical steps to address their brick-and-mortar vacancy woes: replacing empty buildings with multifamily housing, offices, restaurants, entertainment venues and other amenities as part of overall mix-used redevelopment projects. Despite the jarring changes, mall owners have largely succeeded in refilling or replacing many, though not all, of the vacant spaces caused by the rise of e-commerce over recent decades. But finding tenants to fill the last remaining big-box spaces previously hosting larger retail tenants, such as Sears, Toys R Us or Bed Bath and Beyond, has proven more vexing. For two malls, though, an unlikely new type of tenant has stepped into those boxshaped voids: “charitable casinos,” the oncemom-and-pop gaming operations that are now increasingly controlled by large, out-ofstate gambling companies.
Big Investors Replace Dead Anchors In Nashua, the former Sears space at the Pheasant Lane Mall is now undergoing a major redevelopment into “The Nash,” which, with
PG
REAL ESTATE RECORDS
$460,000 460000
3 Belknap �������������������������� 10/11/24 3 Carroll ���������������������������� 10/11/24 4 Cheshire ������������������������ 10/11/24 4 Coos �������������������������������� 10/11/24 5 Grafton ���������������������������� 10/11/24 5 Hillsborough ������������������ 10/11/24 7 Merrimack ���������������������� 10/11/24 7 Rockingham ������������������ 10/11/24 9 Strafford ������������������������ 10/11/24 9 Sullivan �������������������������� 10/11/24 10 Bankruptcies 10 Lien & Attachments 10 Foreclosure, Mortgagee & Other Lien Auctions 10 Requests for Bids & Proposals
oper of the old Hampton Beach Casino, have proposed replacing the former Lord & Taylor space at the Mall at Rockingham Park in Salem with “Live!” The latter duo have proposed that the 120,000-square-foot casino include 40 tables, 900 so-called HHR machines, and a number of dining and entertainment venues. For the project, Faro and Lupoli have teamed up with the Cordish Co., builder of casinos in Philadelphia, Pittsburgh and Tampa, according to filings with the town of Salem.
$500,000 500000 $480,000 480000
TRANSACTIONS THRU
its planned 60 gaming tables and 1,200 slot machine-like “Historical Horse Racing” (HHR) stations, will become the state’s largest gambling venue once it opens, probably early next year. The investors – Las Vegas-based ECL Entertainment and the Toronto-based private equity firm Clairvest – are reportedly spending $250 million on the 130,000-square-foot Nash project. Meanwhile, powerhouse local developers Joe Faro, of Tuscan Brands and Tuscan Village fame, and Sal Lupoli, the founder of the Sal’s Pizza chain and the soon-to-be co-redevel-
Single-Family Median Sales Price
INDEX COUNTY
The owners of the Mall at Rockingham Park have teamed up with prominent local developers Joe Faro and Sal Lupoli to propose converting the mall’s old Lord & Taylor space into a 159,000-square-foot entertainment complex.
NEW HAMPSHIRE MARKET STATISTICS
Gilford
63 VARNEY POINT RD RIGHT. . . . . . . . . . . . . . . . . . . $1,800,000 B: Michael A Lampert, Tr for Michael A Lampert RET S: Kathryn L Groleau, Tr for Kathryn L Groleau T
Image courtesy of HBG Design and KdG
13 WEBB PL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,000,000 B: Webb Place LLC S: Dover Retail Mgmt LLC
$440,000 440000 $420,000 420000 $400,000 400000
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Sept. Oct. Oct. Nov. Nov. Dec. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Sept. Sept. Sept. Dec Jan. ’23
’24
Number 500000 $500,000 of Sales 450000 $450,000 400000 $400,000 350000 $350,000 300000 $300,000 250000 $250,000 200000 $200,000
Continued on Page 12
2020
Sept. ’20
2021
Sept. ’21
2022
Sept. ’22
2023
Sept. ’23
2024
Sept. ’24
Year
Median Price
Change Prior Year
Sept. 2020
$314,000
10.18%
Sept. 2021
$375,000
19.43%
Sept. 2022
$420,000
12%
Sept. 2023
$442,267
5.3%
Sept. 2024
$485,000
9.66%
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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