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Torrington Snags Grocery-Anchored NH Retail for $51M
Torrington said Tuesday it purchased The Ridge, a 300,000-square-foot retail center in Rochester, NH with approximately 30 name-brand tenants, for $51.3 million from Waterstone Properties. Made with financing from Rockland Trust and Goedecke & Co., the acquisition adds to Torrington’s portfolio of grocery-anchored retail destinations in New Hampshire. Newington.
“For us, this acquisition reflects confidence not only in the strength of the property itself, but in the continued growth and economic vitality of New Hampshire communities like Rochester, where quality retail and strong access come together,” said Torrington principal and CEO Jay Bisognano.
With 4.3 million visitors annually, including more than 430,000 coming from more than 10 miles away, the open-air plaza features national and regional brands, including Walmart, Market Basket, Marshalls, Hobby Lobby, Old Navy and others. It is home to a New Hampshire Liquor & Wine Outlet, restaurants like 110 Grill, and several specialty and service retailers like Ulta Beauty and Gentle Dental.
- ◦Sale/Acquisition
