News: Retail
Posted: July 26, 2019
French, Stearney and Klein of Marcus & Millichap brokers sale of 84-acre Swansea Mall site
Swansea, MA Marcus & Millichap completed the sale of two property parcels located at 262 Swansea Mall Dr., 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.”
The property totals 84 acres improved with 600,000 s/f of existing retail buildings. The property is located adjacent to Walmart and less than a mile from I-195. The property which had been home to Macy’s, Sears, and Old Navy, was 100% vacant at the time of sale.
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