Urban Edge Properties Purchases Gateway Center

Urban Edge Properties, a New York-based company, has purchased the Gateway Center in Everett and Shoppers World in Framingham for a combined price of $309 million, according to published reports.

The Gateway Center, a shopping center located at 1 Mystic Road, is home to several popular stores and restaurants, including Target, Home Depot, Old Navy, Texas Roadhouse, and Panera Bread.

Commenting on the sale of the Gateway Center, Everett Mayor Carlo DeMaria said, “The City is aware of the closing on the Gateway Center mall property. We look forward to working with the new owners to make sure they are taking appropriate steps to mitigate traffic issues generated by the parcel during peak retail seasons.”

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