Encore Retail, LLC Closes on Bedford Development
DALLAS, TX Encore Retail, LLC, a subsidiary of Dallas, Texas-based Encore Enterprises, Inc., has acquired land to develop a 16-plus-acre high-density, Class A, mixed-use development in the affluent town of Bedford, New Hampshire. The development will consist of fashion, recreation, fitness, dining, and office space conveniently located on South River Road, in the heart of New Hampshire's retail and business hub. The new Whole Foods is currently under construction contiguous to this site, and is scheduled to open in the spring of 2016.
"The property is strategically positioned along South River Road at the high-traffic intersection of Route 101 and Everett Turnpike," said Nicholas Barber, President of Encore Retail. "Its close proximity and direct access to Whole Foods will really create a regional destination for area residents."
The development is planned to be in excess of 200,000 square feet and is already experiencing strong interest from regional and national retailers.
"This project is part of our continued strategy of deploying funds from our newly raised acquisition fund," said Bharat Sangani, Chairman of Encore Enterprises. "We have a large interest in continuing to find other attractive commercial real estate opportunities in New England."
Prellwitz Chilinski Associates, known for their upscale, mixed-use design with a signature creation of memorable retail and public space destinations, has been selected as the Architect for the project. Theodore Chryssicas, of Newmark Grubb Knight Frank, brokered the deal, and will handle retail leasing. Robert Rohrer, of Colliers International, will handle office leasing. Construction on the project is expected to commence as early as the fourth quarter of 2016.