One of the staples of the Framingham retail landscape has a new owner, as Urban Edge Properties announced it has acquired the shopping plaza.
FRAMINGHAM - One of the staples of the Framingham retail landscape has a new owner, as Urban Edge Properties announced it has acquired the Shoppers World shopping plaza.
The New York-based real estate company published the results of their third quarter earnings on Tuesday, which included the details on their purchase of Shoppers World. The $309 million sale between Urban Edge and Ohio-based company SITE Centers was finalized on October 23, as it also included Everett’s Gateway Center.
“These properties support the company's strategy of acquiring high-quality retail real estate with future growth potential while providing us with critical mass in the Boston market,” Urban Edge stated in their report.
Established in 1951 as one of the nation’s first suburban shopping malls, the current Shoppers World campus located between Route 9 and Route 30 boasts 758,000 square feet, according to Urban Edge’s report. Retail titans including Best Buy, Marshalls, and T.J. Maxx are present-day anchors for the plaza.
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