GLOUCESTER-Another shopping center in Gloucester has recently been sold.
On Monday, June 13, Cushman & Wakefield/Thalhimer’s Capital Markets Group announced the sale of The Shoppes at Gloucester off George Washington Memorial Highway.
BH Properties sold the 92,273 square foot retail center, located at 6499-6513 Market Dr., for $7,450,000. Cushman & Wakefield/Thalhimer reported that a 1031 buyer based in Roanoke, VA bought the property as an investment.
The Shoppes at Gloucester is 93 percent leased and includes four national tenants: Ollie’s Bargain Outlet, Tractor Supply, Aaron’s, and Planet Fitness.
This is the second shopping center in Gloucester that has recently changed hands. Earlier in June, it was announced that another small shopping complex located at 7028-7040 George Washington Memorial Highway, which houses Sherwin-Williams, Mattress Firm, and the Helping the Homeless thrift store, is under new ownership.
In addition, construction is underway for a new shopping center that will be roughly 9,000 square feet and include three tenants. That shopping center is going up next to McDonald’s, also on George Washington Memorial Highway.