Offering Synopsis

BELMONT, NEW HAMPSHIRE

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AUCTION DATES

Tuesday, March 17th - Thursday, March 19th

CLICK HERE TO VIEW THE OFFERING PAGE

INVESTMENT HIGHLIGHTS

LONG-TERM GROCERY ANCHOR WITH A SIGNICANTLY BELOW-MARKET LEASE

214,523 square foot enclosed shopping center anchored by Shaw’s, a major regional grocer that has been a fixture at the property for nearly 20 years, drawing consistent daily traffic to the site and operating a highly profitable store

MULTIPLE AVENUES TO UPSIDE

Ability to drive substantial NOI growth by undertaking a programmatic lease-up of the asset’s available space, redeveloping/repositioning its enclosed interior and adding alternate uses

NATIONAL TENANT ROSTER

Presently 60% leased to a 15-tenant roster anchored by national retailers Shaw’s, Big Lots, Jo-Ann Fabric & Craft, and Planet Fitness with 87% credit tenancy and 6.0 years of weighted average lease term, offering a diverse tenant mix that appeals to local residents and area visitors alike

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AVA I L A B L E

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RECENT RENEWAL ACTIVITY

Shaw’s recently extended its lease with a long-term commitment through December 2028, while Dunkin’

Donuts recently exercised their second extension option through July 2023. Planet Fitness has also committed

to the center with their eight-year extension through November 2026. Most recently, Big Lots also extended

their lease through January 2025.

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December

‘28July

‘23

November January

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PRIME ROUTE 3 LOCATION

Prominent location with highly visible signage at two signalized intersections along Route 3 (Daniel

Webster Highway), the primary regional thoroughfare serving the communities south and west of Lake

Winnipesaukee, which features an average daily traffic count of 17,700 vehicles 1 7, 70 0 V P D

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STRONG LOCAL DEMOGRAPHICS

Surrounded by three- and five-mile population counts of 17,300 and 27,600 residents, respectively, with corresponding average household incomes of

$69,900 and $76,1002 7, 6 0 0 P E O P L E$ 76 , 1 0 0 A H H I

LAKES REGION: YEAR-ROUND DESTINATION

Featuring a wealth of tourist attractions and recreational activities from boating, golfing and hiking to skiing, snowboarding and

snowmobiling, New Hampshire’s Lakes Region is visited by approximately 355,000 people who spend an estimated $225

million annually

EXECUTIVE SUMMARY

Newmark Knight Frank and RealINSIGHT Marketplace have

been exclusively retained to sell Belknap Mall, a 214,523

square foot enclosed, Shaw’s Supermarkets-anchored center

and located in the Lakes Region community of Belmont, New

Hampshire. The property features a host of fundamentally

desirable investment characteristics, including a long-term

grocery anchor, recent renewal activity, a strategic location

along a major regional thoroughfare and high visibility with

pylon signage at two signalized intersections. Additionally,

Belknap Mall presents investors with attractive opportunities

to drive significant NOI growth through near-term leasing

upside and future redevelopment potential.

Belknap Mall comprises an enclosed retail center that is

anchored by Shaw’s, Big Lots, Planet Fitness and three

additional buildings that are occupied by such tenants

as Jo-Ann Fabric & Craft, New Hampshire Liquor & Wine

Outlet, Dunkin’ Donuts and Supercuts. Presently 60% leased,

the offering features 87% credit tenancy and 6.0 years of

weighted average remaining lease term.

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New Hong Kong Buffet

40%

AVAILABLE

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DANIEL WEBSTER HIGHWAY

New H

ong Kong

Buffet

93

3-MILES

17,200 People

$66,500 AHHI

5-MILES

27,500 People

$71,200 AHHI

TILTONTILTON

PRIME ROUTE 3 LOCATION

Belknap Mall boasts a highly desirable location with 577’ of frontage and prominent pylon signage at two signalized intersections along Route 3 (Daniel Webster Highway), a major regional thoroughfare serving the Lakes Region of New Hampshire. Traversed by locals and tourists alike, Route 3 is a heavily traveled corridor (17,700 vehicles per day) that connects the Lakes Region to Interstate 93 and serves as home to a wealth of synergistic retail offerings highlighted by the Tanger Outlets, which features 50+ shopping and dining options located just six miles south of Belknap Mall.

In a further testament to the strength of this location, a number of the Lakes Region’s most popular attractions – including the Bank of New Hampshire Pavilion, Gunstock Mountain Resort, Lake Winnipesaukee and Weirs Beach – are just minutes away. For this reason, the area serves as a prominent year-round destination with consistent retail demand that is further bolstered by the attraction of New Hampshire’s tax-free shopping environment.

Belknap Mall, therefore, not only benefits from its surrounding three- and five-mile population counts of 17,300 and 27,600 residents, respectively, with corresponding average household incomes of $69,900 and $76,100, but also the hundreds of thousands of visitors that flock to the Lakes Region annually.

LIMITED LOCAL GROCERY COMPETITION

The next-closest full-service grocery stores to Belknap Mall are each seven miles away and do not offer a similar mall format to the subject offering, positioning Belknap Mall as the only grocery-anchored, one-stop shopping destination within a sizable trade area. Hannaford and another Shaw’s – whose presence stands as a testament to the strong grocery demand in the local area – are located seven miles to the north of Belknap Mall, while Market Basket is located seven miles to the south. Combined with Shaw’s recent lease extension at Belknap Mall through December 2028, these factors provide assurance that the supermarket will continue to be a longstanding fixture within the subject property.

TangerOutlets

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DOLLAR TREE

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BELMONTBELMONT

LACONIALACONIA

DOLLAR TREE

The information contained in this Confidential Offering Memorandum (“Memorandum”) is highly confidential, furnished solely for the purpose of review by a prospective investor (“Principal”) of Belknap Mall (the “Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of the owner of the property (“Owner”) and Newmark Knight Frank (“NKF”). No warranty or representation, express or implied, is made by Owner, NKF, RealINSIGHT Marketplace, or any of their respective affiliates as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. This Memorandum is the property of Owner and NGKF and may be used only by Principals approved by Owner and NKF. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Owner and NKF.

RICHARD RUGGIERO Executive Managing Director | License #067853

JUSTIN SMITHLicense #071232Senior Managing Director(617) 863-8619justin.smith@ngkf.com

ExclusivEly OffErEd By:

License # 68338

THE OFFERING PROCESS

An online auction event will be conducted on RealINSIGHT Marketplace in accordance with the Sale Event Terms and Conditions (https://marketplace.realinsight.com/legal-sale-terms).

DUE DILIGENCE

Due diligence materials are available to qualified prospective bidders via an electronic data room hosted by RealINSIGHT Marketplace. Prospective bidders will be required to electronically execute a confidentiality agreement prior to being allowed access to the materials. All due diligence must be conducted prior to signing the purchase and sale agreement. You may contact the sales advisors with any due diligence questions.

BUYER QUALIFICATION

Prospective bidders will be required to register with RealINSIGHT Marketplace to bid. Each bidder will be required to provide current contact information, submit proof of funds up to the full amount they plan to bid, and agree to the Auction Terms and Conditions.

In order to participate in an auction, the Seller requires bidders to provide proof of their liquidity in an amount of at least their anticipated maximum bid for those assets they wish to bid on. Such liquidity must be in the form of cash, or cash equivalents, and must be available immediately without restriction.

Generally, recent bank statements, brokerage account statements, or bank letters are acceptable. A line of credit statement may be acceptable only if it is already closed and in place, has undrawn capacity, and may be funded immediately without bank approval. Loan pre-approval letters, term sheets, and the like, where the loan would be collateralized by the property up for auction and funded at escrow closing, are NOT acceptable. Capital call agreements, investor equity commitments, and the like, are evaluated on a case-by-case basis. The acceptance of any proof of funds documents are made at the sole and absolute discretion of RealINSIGHT Marketplace. For further information, please visit the Bidder Registration FAQ (https://marketplace.realinsight.com/faq-bid-registration).

AUCTION DATE

The Auction end date is set for March 19, 2020.

RESERVE AUCTION

This will be a reserve auction and the Property will have a reserve price (“Reserve Price”). The starting bid is not the Reserve Price. The seller can accept or reject any bid. All bidders agree to execute the non-negotiable purchase and sale agreement, which will be posted to the electronic data room prior to bidding commencement, should they be awarded the deal. For further information about how to bid, please visit the Bidding page (https://marketplace.realinsight.com/faq-bidding).

CLOSING

Following the auction, the winning bidder will be contacted by phone and email to go over specifics of the sale, including the execution of the purchase agreement and all documentation involved in the purchase. The winning bidder must be available by telephone within two hours of the sale. More information can be found on the RealINSIGHT Marketplace website.

KEY DATES

Auction Start Date

Auction End Date

Tour DatesBy Appointment Only

March

19

March

5/6

March

17