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- LoopNet Team
144 Canal St
Salem, MA 01970
University Square-Build to Suit · Property For Lease
Highlights
- Heavy vehicular traffic is consistent along the well established commercial roadway.
- Grocery anchored strip center is located diagonally across Canal St.
- A proposed future South Salem commuter rail stop may also be located at a point behind the development.
- The site is located between Salem Hospital (North Shore Medical Center), Salem State University, and Salem's Central Business District.
- A newly constructed bike trail runs parallel to the rear property line.
Property Facts
| Property Type | Retail | Year Built | 2021 |
| Gross Leasable Area | 2,600 SF | Parking Ratio | 9.61/1,000 SF |
| Property Type | Retail |
| Gross Leasable Area | 2,600 SF |
| Year Built | 2021 |
| Parking Ratio | 9.61/1,000 SF |
About the Property
Lease a 2,600 sq. ft. freestanding building, with drive-thru, on a highly visible corner pad, featuring approximately 25 parking spaces. University Square is an exciting new mixed-use project being developed on Canal St. in Salem, MA. The subject parcel sits at the intersection of Canal and Ocean Ave. The five (5) building Planned Urban Development (PUD) will feature retail and office spaces, plus 49 apartment units. The landscaped site will include ample adjacent parking for all the uses. Join Family Dollar, O'Reilly Auto Parts, Paradise Dental, Honey Dew, and others. The site is diagonally across from Crosby's Marketplace (on Canal). Ocean Ave. divides this property from a newly renovated McDonald's. University Square is in close proximity to Salem's Central Business District and Salem Hospital (North Shore Medical Center), and a short walk to Salem State University (SSU), which has 9000 students and faculty members. The development abuts a newly constructed rail trail, which runs the length of the property. Canal St., 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.
