Quebec real estate firm enters U.S. retail market with $16M buy of Stow shopping plaza
Image | Courtesy of Google Maps
Stow Shopping Center is now under Canadian ownership, following a $16-million sale.
Brasswater, a real estate development firm based in Westmount, Quebec, has entered the American retail real estate market with the purchase of the Stow Shopping Center for $16 million.
The plaza, located at 117-155 Great Road, was sold in a deal finalized on Jan. 30 by Linear Retail Properties of Burlington, according to Middlesex South Registry of Deeds records. The sale was part of a two-parcel transaction where Brasswater also purchased a shopping plaza in South Yarmouth for $10 million, according to CoStar.
Brasswater has more than 90 properties in its profile, ranging from office buildings to shopping plazas, according to its website.
This was the company’s first purchase of retail properties in the United States, according to a Jan. 30 instagram post from Brasswater. Including the Stow and South Yarmouth purchases, Brasswater now has 10 American properties in its portfolio.
Stow Shopping Center’s tenants include locations for Shaw's Supermarkets, Aubuchon Hardware, and Citizens Bank, according to a Google Maps listing. The plaza was constructed in 1972 and features 51,118 square feet of retail space, according to Town of Stow property records.
Linear purchased the shopping center for $12.3 million in 2005. The property was given a 2025 tax assessment value of $17 million.
Sam Koonce, Justin Smith, Matt Austin, Chris Peterson, and Danielle Turpin of Atlantic Capital Partners in Boston served as the listing brokers for this transaction.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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