Framingham's Shoppers World has been acquired by a New York real estate company

Jesse Collings, The MetroWest Daily News
Updated ·2 min read

FRAMINGHAM — Shoppers World, the iconic outdoor shopping plaza that straddles Routes 9 and 30, has a new owner.

During its third-quarter earnings call on Tuesday, Urban Edge Properties, a New York-based retail property holder, announced that it had purchased Shoppers World as part of a $309 million deal in which it also acquired Gateway Center in Everett.

Both Shoppers World and Gateway Center were previously owned by Site Centers, a publicly traded company based in Beachwood, Ohio, that had previously been known as Developers Diversified Realty Corp. before changing its name in 2018.

Shoppers World was most recently assessed at $139 million.

Shoppers World in Framingham has been sold.
Shoppers World in Framingham has been sold.

'A family stopping place': Shoppers World has anchored MetroWest retail since 1951

Shoppers World is currently anchored by Best Buy, Nordstrom Rack and several brands from Framingham-based TJX Companies Inc., including TJ Maxx, Marshalls and Sierra. The plaza recently opened another anchor store, Public Lands, a Dick's Sporting Goods-owned outdoor store that features an indoor climbing wall.

Shoppers World and Gateway Center are by far the largest properties in New England that Urban Edge now manages.

Public Lands, a retailer of outdoor goods that is owned by Dick's Sporting Goods, is among Shoppers World's newest tenants.
Public Lands, a retailer of outdoor goods that is owned by Dick's Sporting Goods, is among Shoppers World's newest tenants.

"These properties support the company's strategy of acquiring high-quality retail real estate with future growth potential while providing us with critical mass in the Boston market," Urban Edge said in a statement to the Daily News.

Changing face of local retail

Constructed in 1951, Shoppers World is considered one of the country's first modern shopping malls. In 1994, following reconstruction of the new Natick Mall just a block away, Shoppers World went through an expansive renovation process of its own.

Now, Shoppers World is undergoing another large renovation, with a section that used to be home to Barnes & Noble and Old Navy being redeveloped to accommodate a new Amazon Fresh grocery store that is set to open sometime next year.

The plaza contains 758,000 square feet of retail space and sits on 98 acres of land.

This article originally appeared on MetroWest Daily News: Shoppers World in Framingham acquired by New York real estate company