SALISBURY, MARYLAND – January 18, 2024 – In an off-market deal, Christian Phillips, Commercial Real Estate Advisor with NAI Coastal kicked off the new year with the sale of Salisbury Plaza Shopping Center to local developers who plan to bring new life to the downtown Salisbury retail complex.
Salisbury Plaza Shopping Center was built in 1935 and is located on the west side of Salisbury, on the corner of Salisbury Parkway (Business Route 50) and Cypress Street directly across from Perdue Farms and adjacent to the Salisbury Police Department. The shopping center sits on just over 14 acres and has roughly 124,000 square feet of commercial/retail space. Salisbury Plaza Shopping Center has a long history as a cornerstone for local businesses and an important access point to services for the community.
The new owners plan to bring that vibrance back to the area alongside the newly built 7/11 and the Salisbury Fire Department’s Station 16 Headquarters on Cypress Street. “This location marks a pivotal point in the redevelopment of the west side of downtown Salisbury,” says local developer Chris Gilkerson.
Redevelopment of the Salisbury Plaza Shopping Center will help to spur new businesses and amenities that will generate growth for the downtown area and local community for years to come. Inquiries for this project or for other commercial real estate needs reach out to Christian Phillips at 410-430-4427 or email christian@naicoastal.com.
About NAI Coastal
NAI Coastal is a full-service commercial brokerage headquartered at Riverview Commons, 150 West Market Street, Suite 101 in Downtown Salisbury, Maryland. The team of ten advisors have comprehensive market knowledge and an unwavering commitment to the Delmarva region. In addition to brokerage and development, NAI Coastal rounds out their service offerings with consulting, which covers leasing, assemblage, acquisition and sale and investment advising. For more information please visit www.naicoastal.com or call 410-543-5115.
