Business: Rindge Crossings shopping center begins to take shape

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

  • Rindge Crossings, the new shopping center at the intersection of Roue 119 and Route 202 in Rindge currently has two tenants and lease agreements have been discussed with a number of national companies. Staff photo by Tim Goodwin—

Monadnock Ledger-Transcript
Published: 1/27/2020 9:25:51 PM

The new shopping center at the corner of Route 119 and Route 202 in Rindge is beginning to take shape.

Currently, there is a Dunkin’ occupying one end of the Rindge Crossings development in a 2,000 square foot space, while the offices of 302 Development LLC, the company that purchased the land and built the shopping center, are in a 1,350 square unit.

Dunkin’ moved to the new space from another location further up Route 202 near Tractor Supply. They also have a drive-through window with traffic going behind the building.

“This was a better location for them,” said Dan Connelly, principal at Argyle Realty Group based out of North Andover, Massachusetts, who is handling the leasing agreements for the shopping center. “It had some visibility, but not that much. Not like they have here.”

Connelly said the benefits of occupying a space in the building is the volume of traffic that passes by the area throughout the day. At the corner of a major driving route between New Hampshire and Massachusetts (Route 202) and close proximity to Franklin Pierce University, Connelly said, tenants have an increased potential for visibility that’s unique to any other spot in town. Connelly said one study showed that 1,300 cars passed by the area each day.

“That’s the highest traffic in the area,” Connelly said.

The total size of the shopping center is 8,000 square feet with five total units and Connelly said he is currently discussing the open units with potential tenants – with one being a national chain restaurant.

There are technically still three units available, but there is potential to combine two of the units to make a 2,700 square foot space that’s more accommodating to a larger company.

In addition to two, 1,350 square foot units, including a corner lot that looks out at the intersection, there is a 1,950 square foot space available. Connelly said that the cost to lease a space is approximately $20 per square foot.

“We’re a little more expensive than most of the places in town, but we offer a great spot,” he said.

Beside the appeal of the location, Connelly said 302 Development went forward with a few features that will appeal to a number of different industries, most notably the restaurant sector.

“We can reach out to a bigger market,” Connelly said.

Each unit has 16-foot ceilings, something Connelly has found in his career is a good selling point.

“Retailers love ceiling height,” he said. “There’s great value in it.”

Two large grease traps were installed in the ground to alleviate any concern or cost if a restaurant company was interested in the space. Two of the units have been left with dirt floors – the two that can be combined – to accommodate any plumbing that would need to be done.

“We really tried to set up a blank canvas for them to work with,” Connelly said. “Because in this business it’s not easy for people to envision what you’re doing.”

Outside Dunkin’ there is a patio area and there’s another one at the other end, closest to the intersection of Route 119 and Route 202.

In total, there is more than 22 feet of frontage for each unit and the interior space of the building is 60 feet deep. The shopping center sits on 20 acres of land, but conservation is a possibility for a portion of it due to its proximity to wetlands.

While Connelly has been in discussions with a number of potential tenants, nothing has been finalized yet. In addition to the national restaurant, Connelly said he has received interest from a national bank. The lease agreements are for 10 years.

“It’s about creating the right mix,” Connelly said of prospective tenants. “We’re going to do the right thing at the right time.”

Connelly said the location is great, but it’s also nice to have major retailers just down the road.

“We were fortunate to find a location that’s close enough to Market Basket, Walmart and Hannaford Brothers,” Connelly said. “We had a vision and the foresight to go forward with the shopping center.”

Construction began in the late summer and Dunkin’ moved into its 2,000 square foot location in mid-December, and just had their grand opening last week. There are 45 parking spots in the lot with availability directly in front of each unit.

302 Development also can build a building up to 3,600 square feet down Route 119 (closer to Franklin Pierce University) with the option to have a drive-through.

For more information, contact Connelly at (617) 784-3239 or dan@arg.boston.




Monadnock Ledger-Transcript

20 Grove St.
Peterborough, NH 03458
603-924-7172

 

© 2019 Monadnock Ledger-Transcript
Terms & Conditions - Privacy Policy