BEDFORD, NH-The evolution of a 1970s era mall here is shifting to another stage, as its New York City-based ownership has opted to put the 270,000-sf complex up for sale. The Bedford Mall is being offered in the $30-million range, says Geoffrey Millerd of Cushman & Wakefield, whose firm has been hired by Emmes & Co. to market the asset.

“It’s very good real estate,” Millerd tells, citing a location in the heart of southern New Hampshire, with access to two main thoroughfares, Routes 101 and 293. The value of the in-fill property at 73 South River Rd. is evidenced by both the mall’s prime tenants, Millerd says, as well as the bevy of nationally known retailers that have flocked to nearby parcels. The Bedford Mall roster includes Bob’s Stores, Linen’s ‘n Things, Marshalls, Outback Steakhouse and Staples, whereas a Super Stop N’ Shop just opened across the street. Lowe’s Home Improvement and Target are other neighbors.

“Bedford is a really attractive community,” says Millerd. “It’s a place [retailers] want to be.” The retail investment sales specialist is handling the assignment for Emmes & Co. on a team including C&W principal Edward Maher Jr. and Michael d’Hemecourt. Southern New Hampshire has one of New England’s fastest growing populations, notes Millerd, as its proximity to Boston 50 miles south has allowed it to become a bedroom community in recent years. Nearby Manchester and Nashua, meanwhile, are recovering strongly from a difficult start to the decade, with the economic rebound leading to further confidence in the area.

The Bedford Mall marketing is being launched at a time of unrest in the commercial real estate capital arena, while retail in general is being further disrupted by credit issues that have some concerned consumers might be curbing their spending ways. Despite that jittery climate, Millerd says the product segment remains a popular choice among investors. While acceding that debt has become more expensive and increasingly difficult to secure, he says plenty of equity investors are pursuing retail assets, especially those bearing upside such as the Bedford Mall.

Besides steady income from the successful strip center component, Millerd explains that the new owner will be able redevelop the enclosed mall, which is presently shuttered. “It’s a unique opportunity,” he says. “There’s a lot that can be done with it.” One possibility, he says, is to incorporate elements of a life-style center, the retailing model sweeping the national shopping landscape. Lifestyle centers are being pursued in other parts of the Merrimack Valley, and Millerd says the Bedford Mall could be a candidate.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.