Former Sears Property on Rt 1 in Saugus Sells for $20 Million
September 20, 2022
The former Sears building on Route 1 in Saugus has been sold for $20 million.
The property is located at 1325-1331 Broadway in Saugus, perpendicular to the Square One Mall. Seritage Growth Properties was the seller, having purchased it from Sears in 2015 for $7,262,889.
Plans for the opening of a "family entertainment center" run by Apex Entertainment were scrapped in 2021 while COVID was still a pandemic with the company turning its attention to reopening its facilities elsewhere.
The buyer is Choose One Real Estate Trust, Robert Barsamian Trustee.