GLOUCESTER, MA, – Marcus & Millichap announced that Marcus and Millichap’s Koury Group brokered the sale of Railroad Plaza, a 37,340-square foot Shaw’s anchored shopping center located in Gloucester, MA.
The asset sold for $6,200,000.
James M. Koury and Alex Quinn of the Koury Group exclusively marketed the property on behalf of the seller and identified the buyer.
“The center is centrally located in Gloucester and strategically adjacent to the town’s commuter rail station and a short walking distance from the center of town. 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 has been owned by the Psalidas family for over 50 years.”
