Rhode Island Company Sells Concord NH's Fort Eddy Plaza For $30 Million

CONCORD, NH — The Providence, Rhode Island, company that owns Fort Eddy Plaza in Concord has sold the property.

Torrington Properties of Boston, Massachusetts, and Durham purchased the property from South Miami Properties LLC for $30 million on Thursday. The shopping center, which houses Shaw’s, BAM, Staples, and other stores and restaurants, is fully leased and one of several acquisitions and developments the company has been involved with during the past two years.

South Miami Properties, based in Rhode Island, doing business as Eddy Plaza Associates LLC, has owned the property since it was built in 1979. The property was assessed at about $22 million earlier this year. Eastern Retail Properties brokered the sale.

Matt Morgan, Torrington’s CEO, said the company saw an opportunity to further elevate the plaza into a premier retail destination in the future and believed in the city's economic strength.

“We are grateful to both Eastern Retail Properties and the seller for the opportunity to acquire the Fort Eddy Plaza,” he said. “With its high visibility and excellent location off Interstate 93, the Fort Eddy Shopping Center is a tremendous opportunity for us, and a welcome addition to Torrington’s retail and commercial portfolio.”

Michael Hotarek of Eastern Retail Properties said Torrington had become “a major player in commercial real estate development” and had a “great reputation in the industry as a company to watch in all sectors.” He said the company had honored its commitments to get this asset closed in a challenging environment.

Other stores in the plaza include Eastern Mountain Sports, AAA, Rite Aid, Five Guys, GameStop, H&R Block, Moritomo Japanese Restaurant, and The Paper Store.

Torrington Properties owns more than 80 properties around the region, with holdings valued at around $500 million. The company also has more than 1,000 apartments in its portfolio.

The company purchased the vacant Sears at the Mall at Fox Run in Newington for $11.5 million in October. Earlier this year, the company purchased 100 Domain Avenue in Exeter for $46.9 million — one of the most significant commercial office real estate acquisitions in New Hampshire in years.

The company is also working to bring Chick-Fil-A to the Newington Park Shopping Center in Newington, a property it purchased in 2021, and signed a deal with ConvenientMD to relocate its corporate headquarters to the West End Yards property in Portsmouth. Buffalo Wild Wings and another restaurant will also be tenants at the property.

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