The Medford Shaw’s store will close to the public for good on Sunday, according to several sources.
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.
An email sent to the property manager inquiring about the property’s future did not receive a response. There have been many rumors about a future tenants in the space but nothing has been confirmed.
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.
Shaw’s opened its doors in Medford in 1995. Many Medford residents worked there, most of whom have been transferred to other stores. While Medford does have several other places to shop, including two Stop and Shop stores, Whole Foods, and ALDI- and major stores nearby, including Market Basket and Trader Joe’s- the departure of Shaw’s from Locust Street leaves a large void for many customers.