375-447 West St
Keene, NH 03431
West Street Shopping Center · Retail Property For Sale

Atlantic Capital Partners has been exclusively engaged to market for sale
the ground lease lessor position of 447 West Street located in Keene,
NH. This offering provides future ownership a unique opportunity to
acquire a rare ground leasehold totaling 13.2 acres. Atop the offering
is a 206,319 square foot, grocery-anchored shopping center that has
proven to be one of the most productive in the market. The grocer,
Hannaford, currently leases 64,795 of GLA and ranks as the second best
location across the entire chain, making it incredibly desirable. In
addition, Hobby Lobby occupies the East side of the center with several
national and regional inline tenants between the large-box anchors.
The current lease has 55 years remaining and expires on 6/30/2080
when the current shopping center can be conveyed. All annual rental
payments are based on a flat-based rental amount ($60,000/yr) and
an additional variable amount that is tied to the rental income of the
shopping center. Given the productivity and durability of tenancy
within the lessee’s asset, this is incredibly desirable. In addition, future
ownership will be able acquire control of the entire shopping center
upon lease expiration at no cost.
447 West Street is situated in one of the most active submarkets within
Southern New Hampshire, being home to several productive retail
nodes and an active population. The asset resides at a desirable location
within the market benefiting from the traffic of Downtown Keene and
the immediate exit off State Route 9 which realizes over 21,800 vehicles
per day. The surrounding landscape is anchored by extensive co-tenants
such as Kohl’s, Aldi, Target, Home Depot, and Walmart that facilitate an
ever-growing submarket nature.
The asset is being offered without a formal asking price with bids due
on February 19th, 2026.