Jones Lang LaSalle (“JLL”) has been retained as the exclusive advisor for the sale of The Mall at Fox Run (the “Property”), a single level regional mall located at 50 Fox Run Road in Newington, NH 03801. The Mall is situated on 67.27 acres and is comprised of 602,104 square feet (“SF”) of gross leasable area (“GLA”) and features an anchor lineup which includes Macy’s (77,336 SF), Macy’s (59,919 SF), JCPenney (82,531 SF) and a Seritage-owned anchor box (130,484 SF, dark), which account for 350,270 square feet and approximately 58.2% of the total GLA.
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EXCEPTIONAL LOCATION / ACCESS
The Property benefits from an exceptional location along the Woodbury Avenue/Spaulding Turnpike commercial corridor, which see average daily traffic counts of 14,000 and 54,700 vehicles, respectively.
The Mall at Fox Run offers prospective purchasers the potential to meaningfully reposition and/or reimagine the most significant asset along densely developed Woodbury Avenue/Spaulding Turnpike commercial corridor, in the Portsmouth, NH MSA.
AFFLUENT TRADE AREA AND MAJOR ECONOMIC DRIVERS
The Mall at Fox Run enjoys a high-profile location within New Hampshire’s affluent Seacoast Region, which is well-known for its proximity to Boston (50 miles to the south via I-95), and Portland, Maine (50 miles to the north on I-95). The Property also benefits from close proximity to many of the area’s diverse economic drivers.
ADDITIONAL UPSIDE POTENTIAL
The Mall at Fox Run presents further additional upside with the potential to lease 15 available small shop suites, comprising approximately 37,262 SF, and convert 37 suites, comprising 119,827 SF, to permanent tenants.
The Property is currently zoned Commercial District C - a mixed-use zone that provides for a variety of land uses including retail sales, office buildings, research & development facilities and light manufacturing.