Koury Group Completes The $6.2M Sale of Railroad Plaza in Gloucester

GLOUCESTER — Marcus and Millichap’s Koury Group recently brokered the sale of Railroad Plaza, a 37,340-square-foot Shaw’s anchored shopping center located in Gloucester, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The retail 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 as well as identified the buyer.

According to Senior Managing Director Koury, “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. Shaw’s master leases 33,515 square feet of the center of which it sublets 4,890 square feet to a local liquor store.” Koury also affirmed, “Railroad Plaza is one of two Shaw’s anchored Gloucester Shopping Centers that has been owned by the Psalidas family for over 50 years.”