With Shaw’s Closing, What Will Come to Medford?

Shaw's Medford

Courtesy photo.

The news of the closing of Shaw’s Medford store has left several questions: What will the current employees do, and who will get transferred to other stores? Where will Shaw’s regulars shop? What will happen to the vacant property?

First, it remains to be seen which employees will leave and who will be transferred. Shaw’s does have many supermarkets in the area. Second, there are several places in Medford to shop- two Stop and Shop stores, Whole Foods, and ALDI. There are also major stores nearby, including Market Basket and Trader Joe’s.

The Shaw’s property has been owned by Equity One, Inc., of Miami Beach, Florida, since 2004, according to local real estate records. The company paid nearly $20 million for the property, which is now valued at $9.7 million. According to the records, Shaw’s owned the property briefly from 1994 until 1996, when it sold the property for $1 to Boston City Properties III Inc. The 61 Locust Street location has had five owners since 1993, according to records.

Currently, Shaw’s and Eastern Bank are the only tenants. Shaw’s is expected to close next month.

An email sent to the property manager inquiring about the property’s future did not receive a response.

Equity One is the landlord for many retail properties around the country as well as locally, including Star Markets in Cambridge and Quincy, Shaw’s in West Roxbury, and Whole Foods in Swampscott, according to their website.

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- InsideMedford.com

This entry was posted on Wednesday, January 15th, 2014 at 8:13 pm and is filed under Business News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “With Shaw’s Closing, What Will Come to Medford?”

  1. Andersen prince says:

    Market Basket is better than Traders Joe,but the only problem is,Medford will have a lot of traffic.That will cause people to be late

  2. mary reed says:

    I would love a market basket in Medford. I have to go all the way to Somerville which is too far.

  3. Will Donnellan says:

    I’m buying the property and I’m going to live in aisle 3. :)

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