X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEVERLY, MA-Commodore Plaza, a new retail center on Route 1A, has recently leased up nearly 75% of its space. The 42,718-sf mall is located adjacent to the Super Stop & Shop in the North Shore. The lease rate for space at the Plaza varies among the tenants, but averages about low $20s per sf.

The Plaza now has 32,018 sf of its space occupied. Its tenants include Not Your Average Joe’s restaurant, Cardsmart, River’s Edge Trading Company, New England Running Company, LA Weight Loss, Fantastic Sams, DogSpa, Kids Unlimited, Nails & Co., SunBanque, and Quiznos Subs. An additional 10,700 sf building is under construction at the center and is available for lease.

Don Mace, senior leasing associate of Finard & Company, was the broker for Commodore Plaza. He tells GlobeSt.com that demand for retail space in this area is very high. “I get more calls on this site than on any other.” Mace points out that there is very limited small shop space in this market that has a growing population and a solid economic base. He also notes that the area has a lot of traffic and there have been a lot of infrastructure changes.

“There is no retail vacancy here,” says Mace. The only other retail center in Beverly is the Shaw’s Center, a strip mall of approximately 140,000 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.