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Marcus & Millichap Arranges $6M Sale of Railroad Plaza in Gloucester
Marcus & Millichap’s Koury Group has brokered the sale of Railroad Plaza, a 37,340-square foot Shaw’s-anchored shopping center located in Gloucester, MA. According to Thomas Shihadeh, regional manager of Marcus & Millichap’s Boston office, the asset sold for $6.2 million.
The center is centrally located in Gloucester and adjacent to the town’s commuter rail station, and a short walking distance from the center of town.
James Koury and Alex Quinn of the Koury Group marketed the property on behalf of the seller and identified the buyer.
“The Shaw’s master leases 33,515 square feet of the center of which it sublets 4,890 square feet to a local liquor store,” said Koury. “Railroad Plaza is one of two Shaw’s anchored Gloucester shopping centers that have been owned by the Psalidas family for over 50 years.”
- ◦Sale/Acquisition
