Salisbury Plaza will get 'new life' with new ownership: What to know about big plans

In an off-market deal, the Salisbury Plaza Shopping Center has been sold to local developers looking to revitalize the retail property.

Christian Phillips, a commercial real estate advisor with NAI Coastal, started the new year with the sale of the shopping center with plans "to bring new life to the downtown Salisbury retail complex," he said in a statement.

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.

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New ownership see 'a pivotal point' for west side of Salisbury

The shopping center sits on just more than 14 acres and has roughly 124,000 square feet of commercial/retail space. According to NAI Coastal, the shopping center has a long history as a cornerstone for local businesses and an important access point to services for the community.

“This location marks a pivotal point in the redevelopment of the west side of downtown Salisbury,” says local developer Chris Gilkerson.

The new owners plan to bring additional businesses alongside the newly built 7/11 and the Salisbury Fire Department’s Station 16 Headquarters, located across the street from the shopping center on Cypress Street.

NAI Coastal is a commercial brokerage headquartered at Riverview Commons in Downtown Salisbury. The team of 12 advisors work primarily in the Delmarva region. In addition to brokerage and development, NAI Coastal also provides consulting, which covers leasing, assemblage, acquisition and sale, and investment advising.

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"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," NAI said in a statement.

This article originally appeared on Salisbury Daily Times: Big changes in works for Salisbury Plaza with new ownership