Shaw’s Plaza at 700 South Main Street, Sharon is scheduled to be auctioned on Friday, February 19th, 2016 at 11 AM as the result of a foreclosure proceeding. Sullivan & Sullivan Auctioneers, LLC has been hired to bang the gavel. This is a big deal for Sharon since the site is Sharon’s only major shopping plaza.
Globe St. reported on August 25th, 2005 in a post entitled “Buyer Takes Shaw’s Plaza In Sharon With $10M Offer” that a “California real estate group pays $10.4 million for its first East Coast acquisition. The firm outbids at least a dozen other investors to pick up a 103,827-sf grocery-anchored shopping center here.” Sharon Cinemas 8 closed on December 31st, 2015 and according to an advertisement by Atlantic Retail, the space vacated by Sharon Cinemas 8 comprises 25,488 square feet of the 103,827 square feet of space or approximately 25% of the gross space so that’s a big loss of income for the current owner.
There are United States Department of Environmental Protection (EPA) filings in relation to Shaw’s Plaza. There’s a Notice of Intent by Resource Control Associates, Inc. of Pawtucket, RI that’s dated November 9th, 2005 and an Authorization to Discharge by the EPA that’s dated February 20th, 2011. Maybe the costs associated with the site’s EPA issues played a role in the foreclosure auction?
Hub Edge Realty, LLC would like to help you with your commercial property needs in Sharon. Below is the complete list of commercial properties listed in the MLS that are available for lease and for sale in Sharon. Call (617) HUB-EDGE.
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