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- LoopNet Team
142 Canal St
Salem, MA 01970
University Square - North Building · Property For Lease
Highlights
- Site is located between Salem Hospital (North Shore Medical Center), Salem State University, and Salem's Central Business District.
- 21 residential units are on the second and third floors above the subject space.
- Heavy vehicular traffic along the established commercial corridor.
- Starbucks is NOW OPEN! (South Building)
- Grocery anchored strip center is located directly across Canal St.
- Recent Rental Rate Reduction - Flexible Rent Commencement
Property Facts
| Property Type | Retail | Total Land Area | 1.76 AC |
| Property Subtype | Freestanding | Year Built | 2009 |
| Gross Leasable Area | 10,905 SF | Parking Ratio | 11/1,000 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 10,905 SF |
| Total Land Area | 1.76 AC |
| Year Built | 2009 |
| Parking Ratio | 11/1,000 SF |
About the Property
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.
- Bus Line
- Pylon Sign
