Massachusetts firm adds to New Hampshire mall portfolio

RK Centers buys Burlington Stores/Michaels building in Manchester for $13.8m

A Needham, Massachusetts-based property development company continues its string of shopping center purchases across New England with the acquisition of a highly visible retail building on Manchester’s South Willow Street for $13,825 millions of dollars.

The 74,935 square foot building purchased by family-owned RK Centers is home to two premier tenants, Burlington Stores and Michaels. The site covers 11.85 acres.

RK Centers owns and manages a portfolio of more than 10 million square feet of outdoor regional and community shopping centers across New England and South Florida, according to Kenneth Fries, vice president of development and acquisitions at RK Centers, which announced the deal.

His other properties in New Hampshire include the 150,000 square foot RK Center on Hooksett Road in Hooksett; the 135,000 square foot Reeds Ferry Crossing in Merrimack; the 164,000 square foot RK Portsmouth Circle on Spaulding Turnpike in Portsmouth; the 90,500 square foot Indian Rock Crossing in Windham; and the RK Hannaford on Kilton Road in Bedford.

The seller was South Willow EDF LLC, whose broker was Justin Smith, head of capital markets at Atlantic Capital Partners.

Edwin S. Wolfe