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Off Market
1/2

142 Canal St
Salem, MA 01970


HIGHLIGHTS

  • Site is located between Salem Hospital (North Shore Medical Center), Salem State University, and Salem's Central Business District.
  • Starbucks is NOW OPEN! (South Building)
  • 21 residential units are on the second and third floors above the subject space.
  • Grocery anchored strip center is located directly across Canal St.
  • Heavy vehicular traffic along the established commercial corridor.
  • Recent Rental Rate Reduction - Flexible Rent Commencement

OVERVIEW

Lease up to 5,000 sq. ft. (sub-dividable from 1,450+/ sq. ft.) of prime ground floor commercial space (in the North Building) at the new mixed-use project on Canal St. in Salem, MA. This offering is suitable for numerous uses, including retail, service, office, restaurant, and medical. The five (5) building University Square, a Planned Unit Development (PUD), features retail and office spaces plus a total of 50 apartment units. The landscaped site includes ample adjacent parking for all of the businesses and residents. Ready for immediate delivery. Exciting news - STARBUCKS is now OPEN! (South Building). Other University Square tenants include: Family Dollar, O’Reilly Auto Parts, Paradise Dental, Inner Cycle, Jackson Hewitt, and physical therapist. The site is opposite Crosby’s Marketplace (on Canal St.) and across from a newly renovated McDonald’s (on Ocean Ave.). University Square is in close proximity to Salem Hospital, and the Salem Central Business District and is a short walk to Salem State University, which has approximately 7,500 student and faculty members. University Square abuts a newly constructed rail trail. Canal Street, which is one of Salem’s most active business roadways, was recently rebuilt including new paving, sidewalks and lighting. A proposed future South Salem commuter rail stop may also be located behind the development, providing access to SSU and Salem Hospital, along the Canal St. and Jefferson Ave. corridors respectively.

FOR LEASE DETAILS

PRICE

-

% LEASED

-

TENANCY

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BUILDING DETAILS

PROPERTY NAME

University Square - North Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

10905

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

120

LAND DETAILS

LAND ACRES

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LAND SF

-

ZONING

-

APN/PARCEL ID

SALE-000033-000000-000006