January 9, 2018

Staples plaza in Shrewsbury sells for nearly $12M

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A retail plaza in a busy commercial stretch of Route 9 in Shrewsbury has sold to a Worcester-based firm.

The Route 9 shopping plaza in Shrewsbury hosting a Staples, Bed Bath & Beyond, Bob's Stores, Pier 1 Imports and Work 'N Gear has sold for just under $12 million.

The plaza is in a busy commercial stretch of the highway also including a Home Depot and Stop & Shop just west of the intersection with Route 140.

The retailers add up to about 110,000 square feet.

Owner Shrewsbury KSI 481 LLC of Hyde Park, N.Y., sold the 12-acre site to Shrewsbury Crossing II LLC of Worcester, according to the Registry of Deeds. The new owner of the site is headquartered at 100 MLK Blvd. in Worcester and managed by First American Realty Inc., with Philip Shwachman serving as its CEO.

The town last assessed the site at $16.1 million. Its last open-market sale was for $13.5 million in 1993, according to town records.

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