Shri Swamine, LLC Acquires Retail Property In Methuen, MA For $12.5M

The retail property located at 436 Broadway in Methuen, MA has been sold in a recent transaction. The property, known as Village Mall, is an open-air shopping center with a total area of 92,646 square feet. The sale price for the property was $12,500,000, resulting in a price per square foot of $135. The transaction took place on November 10, 2021.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $12,500,000
• Address: 436 Broadway - Village Mall
• Market: Methuen, MA

The buyer for this transaction is Shri Swamine, LLC, while the sellers are 1180 Beacon Properties, Inc. and Village Mall, Inc. The deal was facilitated by Summit Realty Partners, with Chris McMahon, Travis Ginsberg, and Frank Normandin representing the parties involved.

Village Mall is an attractive shopping destination due to its diverse tenant mix. Anchored by retailers such as Jo-Ann Fabric & Craft Stores, Workout World, Dollar Tree, and Ellie's Farmhouse, the shopping center offers a wide variety of retail and service options. Its prominent location on Route 28, with over 50,000 vehicles passing by daily, provides excellent visibility and access. Additionally, the intersection of Routes 28 and 213, bordering Salem, New Hampshire, further contributes to the mall's strategic placement. Notable tenants in the shopping center include Merrimack Valley Credit Union, Harrow’s Chicken Pies, EZ Access Dental, and China Buffet.