PROPERTY OVERVIEW

142 Canal Street, known as University Square, offers a premier retail opportunity by merging high-traffic visibility with a built-in academic consumer base. Situated just 0.6 miles from Salem State University, the location provides direct access to a community of over 7,500 students and faculty who frequent the area for daily essentials and dining. This academic proximity is bolstered by the property's position on a major transit corridor seeing over 20,000 vehicles daily, anchored by high-draw tenants like Starbucks and O'Reilly Auto Parts. For a business, this creates a unique synergy where heavy commuter traffic meets a consistent, pedestrian-friendly student population, all supported by modern amenities like ample on-site parking and direct access to the local rail trail.

PROPERTY HIGHLIGHTS

Located within the high-traffic University Square development, 142 Canal St, Unit B offers a versatile 1,461 SF multi-use space perfectly suited for light manufacturing, fitness studios, maker spaces, or the performing arts. The layout features a spacious 1,120 SF column free workspace (28′ x 40′) with impressive 13’11” clear heights and a clear-span design for maximum flexibility. Operational efficiency is built-in with a 14′ x 12′ overhead door, dual front and rear access, and an abundance of on-site parking. Fully modernized in 2022, the unit is equipped with high-efficiency LED lighting, a full sprinkler system, and a dedicated electric HVAC system, complemented by well-maintained shared common area restrooms.University Square at 142 Canal Street is strategically positioned within a high-visibility commercial corridor that serves as a primary gateway to historic Salem. The property benefits from exceptional exposure with over 20,000 vehicles passing daily, while its location—just 0.6 miles from Salem State University—provides a consistent, year-round customer base of over 7,500 students and faculty. This vibrant mixed-use hub is directly adjacent to the newly constructed rail trail, offering seamless pedestrian and bike connectivity to Downtown Salem and the MBTA Commuter Rail for easy access to Boston. Surrounded by major national anchors like Starbucks and O’Reilly Auto Parts, the site offers a perfect synergy of high-traffic transit and a walkable, neighborhood-focused atmosphere.