SWANSEA, MA – Marcus & Millichap announced the sale of two property parcels located at 262 Swansea Mall Drive, Swansea, MA, according to the firm’s Boston Office’s Regional Manager John Horowitz. The property is currently the site of the Swansea Mall.
The sale was co-brokered by agents of Marcus & Millichap’s Westchester and Boston offices.
Joseph French, Jr. and Jeffrey Stearney, of the firm’s Westchester Office, represented the seller, a private investor. Harrison Klein, of the firm’s Boston Office, procured the buyer, another private investor.
Regarding the deal, Harrison said, “The Swansea Mall has been an important part of this community for nearly fifty years. The buyer group has a long history of turning large, vacant, buildings into first class properties, bringing value to the local communities.”
Jeffrey Stearney added “This was a very complex transaction that required consummate professional skill and perseverance on the part of all the interested parties, including several local government officials, in order to close the deal.”
The property totals 84 acres improved with 600,000 square feet of existing retail buildings. The property is located immediately adjacent to Wal-Mart and less than a mile from Interstate 195. The property which had been home to Macy’s, Sears, and Old Navy, was 100% vacant at the time of sale.